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General Motors Announcing Compensation Plan for Ignition-Switch Victims

Updated: Monday, June 30 2014, 10:27 AM CDT

We'll learn Monday which victims of General Motors' faulty ignition switch problem will receive compensation from the automaker.

GM hired compensation expert Kenneth Feinberg to come up with the plan. It's expected to cost the company billions of dollars. Feinberg also came up with the compensation plan for victims of the 9/11 terrorist attacks and the Virginia Tech shooting massacre.

GM recalled 2.6 million vehicles equipped with the faulty ignition switch in February. But reports have come out showing GM employees knew about the problem as far back as 2003. The problem caused 13 deaths and 54 accidents.

The problems may not be over after the payouts are issued. Federal officials are still considering criminal charges against GM employees.

General Motors Announcing Compensation Plan for Ignition-Switch Victims


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