GM Settles Two V8 Oil Consumption Class-Action Lawsuits, With Lawyers Getting $66 Million and Owners Getting $700 to $30K
GM has settled two class-action lawsuits regarding oil consumption in 5.3L V8 engines, awarding lawyers $66 million and owners between $700 and $30,000.Summary
General Motors has reached settlements in two class-action lawsuits concerning excessive oil consumption in its 5.3-liter LC9 Vortec 5300 V8 engines, found in Chevrolet and GMC trucks and SUVs from 2011-2014. Owners in Oklahoma, California, Idaho, and North Carolina alleged engine failures due to defective piston rings and accused GM of concealing known defects. The larger three-state settlement totals over $57 million, with individual owners receiving $3,380 and the lead plaintiffs receiving $30,000 each, subject to specific ownership criteria. The Oklahoma settlement is valued at over $9.4 million, offering the lead plaintiff $15,000 and other claimants $700. Notably, the law firms representing the plaintiffs will receive nearly $66 million from the settlements. Despite settling, GM maintains it has done nothing wrong. The company currently faces new lawsuits related to failures in its newer 6.2-liter L87 EcoTec3 V8 engines, which are also under investigation by the NHTSA.
(Source：The Fast Lane Truck)