A compensation fund set up for victims of faulty ignition switches in General Motors vehicles says the switches were responsible for 124 deaths and 266 injuries.
The fund, run by attorney Kenneth Feinberg, has finished processing the 4,342 claims it received by the Jan. 31 deadline. Of those, 91 per cent were deemed ineligible or deficient. Claimants could not appeal Feinberg’s decision.
Victims’ families are being offered compensation of at least $1 million each.
GM recalled 2.6 million Chevrolet Cobalts and other small cars last year but acknowledged it knew about the ignition switch problems for more than a decade.
As of March 31, GM had paid $200 million to settle claims filed with Feinberg. The company has said it expects to pay up to $600 million.
