GM to pay $900 million, settle U.S. criminal case over ignition switches

September 17, 2015 12:26 AM

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GM to pay $900 million, settle U.S. criminal case over ignition switches

NEW YORK General Motors Co (GM.N) has agreed to pay $900 million and sign a deferred-prosecution agreement to end a U.S. government investigation into its handling of an ignition-switch defect linked to 124 deaths, two sources told Reuters.

The deal means GM will be charged criminally with hiding the defect from regulators and in the process defrauding consumers, but the case will be put on hold while GM fulfills terms of the deal, one source said.

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