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General Motors has set December 31, 2014 as the deadline to participate in the GM ignition switch product recalls settlement fund.

General Motors established the fund to compensate individuals who were injured or killed in motor vehicle accidents involving certain recalled General Motors vehicles including Chevrolet, Pontiac, Buick, Saturn and Cadillac.  Millions of GM vehicles were recalled due to a defect in ignition switches.  The defect caused the swtch to unexpectedly move from the “on” position to the “off” position, causing the engine and electrical components including power steering, brakes and airbags to fail.  Many serious crashes occurred as a result of the faulty ignition switches.

The product recalls settlement amount will be determined by several factors, including age of the victim, the extent of the injuries, the amount of medical expenses, earning potential and future medical care. It is expected that some of recall injury and wrongful death settlements will be in the millions. Recalled vehicles included in the fund include Chevrolet Cobalts, Saturn Ions and other small GM vehicles. People who were driving or riding in GM cars with defective switches are eligible for the fund, as well as people who were in other vehicles involved in accidents with the recalled vehicles. In addition, any pedestrians injured in those accidents would also be eligible for compensation.

While GM has linked the defective ignition switches to 13 deaths and 54 accidents, 63 death claims have already been filed with the attorney overseeing the fund. Various reports indicate the number of deaths connected to these product recalls actually totals 400 or more.

If you or a loved one has suffered injury or death in an automobile accident involving a recalled GM vehicle, contact the Ohio GM ignition switch lawyers at Clark, Perdue & List.  It is important that you act quickly as the time for submitting a claim is very short.