Kenneth Feinberg, compensation expert for General Motors (GM), stated that the company will not provide a limit as to what each victim can receive in terms of monetary settlement.
Overall, Feinberg said at a press conference in Washington D.C. that the settlement amount could go as high as several billions of dollars but that “there is no ceiling”, especially since the number of claims is not yet fully tallied.
Feinberg made this announcement on the same day that GM issued a recall on the ignition switches of 8.2 million more vehicles, thus adding to its ever-growing list.
Additionally, the delays of this seemingly never ending list of recalls has reportedly stemmed from a highly dysfunctional corporate culture and employee misconduct. GM, however, is finally taking responsibility for what has been happening to victims of such defects.
Our experienced team of attorneys at Wilson & McQueen, PLLC, is ready to take on cases pertaining to personal injury and product liability, among many others. If you are the recent victim of an automotive defect in the Lexington area, get in touch with us today by dialing 859-788-7600.