GM reaches $120 million settlement in ignition-switch defect lawsuit

NEW YORK — Common Motors has reached a $a hundred and twenty million settlement with house owners who claimed that their cars shed value since of faulty ignition switches, which have been connected to 124 fatalities.

The preliminary settlement was submitted on Friday evening with the federal court in Manhattan and needs approval by U.S. District Decide Jesse Furman. It would solve the final main piece of litigation stemming from ignition switches that could bring about GM cars to stall and reduce airbags from deploying.

The automaker denied legal responsibility in agreeing to settle, court papers present.

GM has recalled

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