G.M. Results Show Financial Hit of Recalls – New York Times
G.M. Results Show Financial Hit of Recalls – New York Times
By Bill Vlasic and Hilary Stout
“It definitely could be double or more, given the magnitude of the problem,” said Lance Cooper, an Atlanta lawyer. “Just based on our review of cases and talking lawyers around the country, it likely will be substantially more than $400 million.”
Mr. Feinberg has said that it is impossible to determine how much the company will spend until he reviews the claims.
Lawyers predict that several hundred claims, including at least 100 death claims, will be submitted to the fund.
Jere Beasley, an Alabama lawyer whose firm, Beasley Allen, is working with Mr. Cooper’s firm on ignition switch cases, said the two firms together planned to file 20 to 25 claims, including death, catastrophic injuries and lesser injuries, on the first day. Those, he said, are cases where the evidence is clear cut. He said the firms had potentially hundreds more that they are working on.