New Jersey Gets A $4M Cut Of National Settlement With GM
TRENTON, NJ (CBS) -- General Motors this week settled lawsuits filed in 48 states and the District of Columbia stemming from faulty ignition switches in millions of cars.
The price tag? More than $120 million. New Jersey will get $4.1 million of that.
The states contended GM knew of the problem as early as 2004, yet waited until 2014 to fix some nine million vehicles coast to coast.
"It was only many years later that a proper recall was undertaken," New Jersey Attorney General Christopher Porrino told KYW Newsradio, "and we're seeing a payday for the states that were engaged here and rightfully so."
The bad switches could fail while the car was in motion, leaving things like power brakes, power steering and safety airbags inoperable.
"New Jersey's very pleased with its share of the total settlement," Porrino added, "and we believe that it is a good deal for New Jersey and a good deal for the states that engaged to fight GM in this case."
The settlement also requires GM to ensure a car represented as safe, in fact, measures up to federal standards to make that claim. And any pre-owned cars must have outstanding recall issues addressed before being certified.