NEW YORK (TheStreet) -- General Motors (GM) shares are down 1.8% to $31 in trading on Monday as the faulty ignition switch claims against the U.S. automotive company have risen over the past few days.
The number of claims against the company has risen by 64 over the past week, bringing the total of claims against the company to 2,326, according to Reuters.
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A report by victim compensation lawyer Kenneth Feinberg, who GM hired to handle its out-of-court compensation fund for injuries and death tied to the company's ignition switch recall, showed that 306 claims have been ruled ineligible while 568 have been deemed deficient and 445 are currently under review. So far 100 death and first and second degree injury claims have been deemed eligible for compensation.
The entire breakdown can be seen here.
TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MOTORS CO (GM) a BUY. 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, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."