The verdict was delivered in a state court in Houston and serves as the company's third trial win following two in a federal court in New York, according to Bloomberg. GM still faces more than 100 ignition switch claims.
In 2014, GM recalled 2.6 million vehicles for defective ignition switches.
The case surrounded a 2011 crash, wherein plaintiff Zachary Stevens argued that his vehicle crashed due to a faulty ignition switch that caused his car to lose power-steering and power-brakes capabilities.
GM said Stevens crashed the car after speeding recklessly on a slippery road, then smashed sideways into an oncoming truck. Because he crashed his car sideways, the airbags didn't deploy, GM argued.
The Texas jurors deliberated for about an hour before concluding the crash wasn't a result of a faulty ignition switch, according to Bloomberg.
Shares of GM were flat in after-hours trading on Thursday.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate GENERAL MOTORS CO as a Buy with a ratings score of B-. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, attractive valuation levels, compelling growth in net income and good cash flow from operations. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: