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GM pays ignition victims less than $600 million in settlements

A final report concluded 124 people died in relation to ignition switches in GM compact cars, and another 275 suffered injuries warranting compensation.

By David Welch, Bloomberg | Updated on December 10, 2015
The company logo hangs at the entrance to the lot of a Chevrolet dealership in the southeast Denver suburb of Lone Tree, Colo. (AP Photo/David Zalubowski)

(Bloomberg) — General Motors Co. paid less than $600 million to settle claims by victims of its flawed ignition switches, a slightly smaller sum than what the automaker told investors it expected to pay, after a 20-month-long compensation process led by Kenneth Feinberg.

A final report released by Feinberg on Thursday concluded 124 people died in relation to ignition switches in GM compact cars, and another 275 suffered injuries warranting compensation. The Feinberg-led firm said GM paid out on less than 10% of 4,343 claims submitted, for a total of $594 million in settlements.

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