Sonal
1
All posts from Sonal
Sonal in Smart Investing & Retirement Plans,

GM CEO Mary Barra to be quizzed over botched recall

General Motors CEO Mary Barra is scheduled to face another under-oath grilling about the ignition switch recall that dominated headlines last year.

Barra will be deposed on October 8 by lawyers representing families who are suing General Motors over the defective car ignition switches, a company spokesman said. The problem is linked to 67 deaths and 113 injuries.

GM last week settled one casethat was brought by the parents ofBrooke Melton, who died in a car with the faulty switch. No GM executive had to testify in that case.

But there are hundreds of other litigants that still want a judge to holdGM accountable.

The faulty ignition switches can cause the car to turn off while it's being driven, disabling power-steering and the airbags.

GM recalled 2.6 million vehicles for the problem last year. The car company admitted that some of its employees had known about the issue for 10 years.

GM (NASDAQ:GM) has opened a special compensation fund for victims and their families. Those that take the payout give up their right to sue the company.

Not everyone is buying in.

Barra was called to Capitol Hill and grilled by legislators multiple times last year. In October she'll face questions from plaintiff lawyers for the first time.

The trial is slated to begin in January, a GM spokesman said.

Currently GM (NASDAQ:GM) is trading at 38.65 with +0.39% change.