GM to Pay $900M to Settle Criminal Case Over Faulty Ignition Switches

General Motors (GM) will pay $900 million to close the books on a criminal investigation into its handling of the faulty ignition switches. GM will also take a 3rd quarter charge of $575 million to cover settlements of civil cases tied to defective switches. GM has also agreed to pay $900 million and enter a deferred prosecution agreement to end a U.S. criminal investigation into its handling of defective ignition switches in many of its vehicles and which are linked to 124 deaths. The automaker admitted to failing to disclose to its U.S. regulator and the public a potentially lethal safety defect with the switches that kept airbags from deploying in some vehicles. It also admitted to having affirmatively misled consumers about the safety of vehicles affected by the defect.