The 5 Largest U.S. Product Liability Cases

AAA

The Largest U.S. Product Liability Cases

General Motors Co. (GM) has been making headlines again this year, but it’s the type of press that no corporation ever wants to face. In February 2014, it was discovered that several of its automobile models were manufactured with faulty ignition switches that could shut off the engine during driving, disable power steering and brakes, and prevent airbags from inflating

The faulty switches have so far, according to GM, been linked to at least 13 deaths and 31 car accidents, but there are claims that many more deaths associated with the faulty switch have, indeed, occurred. GM has since recalled over 26 million of its autos for various reasons this year. It has also set up an uncapped $400 million fund designed to compensate for deaths and injuries caused by its vehicles.

In the meantime, several lawsuits have been filed against GM, including two class action suits. The amount that plaintiffs can sue for is still in question, as many of the deaths and accidents that occurred due to the faulty switch happened while GM was going through bankruptcy. Still, one current lawsuit against the car manufacturer is seeking $10 billion in compensation for owners of GM cars and trucks, who claim their vehicles have lost resale value due to the damage to the brand.

This won’t be the first time that GM has faced product liability claims that ended up costing the company dearly. Here is a sampling of some of biggest product liability suits that U.S. corporations have faced. (For more, see: 5 of the Largest Car Recalls In History.)

  1. No results found.
Related Articles
  1. Investing

    GM Sells European Biz. Stock Stuck in First Gear

    GM is falling today with the rest of the auto sector, despite shedding its European business unit.
  2. Investing

    Analysts Postive on GM Following Quarterly Results

    Piper Jaffray raised its price target on GM to $43 from $42.
  3. Insights

    General Motors Sells Opel, Vauxhall to PSA for $2.3 Billion

    As the U.S. auto giant sheds its European operations, here’s what it gains and loses
  4. Investing

    GM's First-Quarter Auto Sales in China Dwindle

    GM said first-quarter China sales dropped due to a change in the government's tax policy.
  5. Investing

    Why GM Could Slide 10% After Bull Run

    Shares of General Motors Co. could be set to fall by nearly 11% to a price of roughly $38.
  6. Investing

    GM Stock Seen Falling 9% as Outlook Worsens

    The stock has risen 17% since March, but analysts are lowering 2019 estimates.
  7. Investing

    Is General Motors Stock Really a Buy? (GM)

    Learn about the challenges faced by General Motors Company and the changing dynamic of the auto industry as innovation draws competition from tech giants.
  8. Insights

    U.S. Automakers Aware of Faulty Takata Airbags

    Suit alleges major automakers were aware of faulty airbags, but used them anyway.
Trading Center