[New post] GM will pay $900 million criminal penalty in ignition switch case

sskarthik posted: "Reuters reports that federal prosecutors have reached an agreement with General Motors today over defective ignition switches that will see the company admit to misleading regulators and consumers, pay some $900 million in fines, and agree to the installm" Respond to this post by replying above this line New post on SKarthik.info GM will pay $900 million criminal penalty in ignition switch case by sskarthik Reuters reports that federal prosecutors have reached an agreement with General Motors today over defective ignition switches that will see the company admit to misleading regulators and consumers, pay some $900 million in fines, and agree to the installment of an independent monitor to oversee compliance. The severe action comes less from the defects themselves and more from GM's response to them: documents uncovered in court showed that the company had systematically failed to understand the severity of the problem and failed to take action on it. The $900 million figure is particularly notable because Toyota agreed to a record $1.2 billion fine last year over similar charges — the "unintended acceleration" scandal — but it's believed that GM was able to negotiate a... Read more... sskarthik | September 17, 2015 at 7:56 pm | Categories: Computers and Internet | URL: http://wp.me/p1eKZE-3koH Comment    See all comments Unsubscribe to no longer receive posts from SKarthik.info. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://sskarthik.wordpress.com/2015/09/17/gm-will-pay-900-million-criminal-penalty-in-ignition-switch-case/ Thanks for flying with WordPress.com