DOJ, GM near settlement over ignitions: Reports

Getty Images. The settlement between the Justice Department and General Motors could be announced as early as this week, Dow Jones reported.·CNBC
Jacob Pramuk
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The Justice Department and General Motors (GM) are nearing a criminal settlement over defective ignition switches that could be announced as early as this week, according to multiple reports Wednesday

The automaker would enter into a deferred prosecution agreement with the government, Reuters and Dow Jones reported, citing sources. Reuters reports GM could be charged with hiding the ignition switch issues from regulators and defrauding consumers.

The ignition switch defect is linked to more than 120 deaths.

GM would owe a penalty less than the $1.2 billion paid by Toyota in a similar case, according to the wires.

GM and the Justice Department did not immediately respond to a request to comment.

This story is developing. Please check back for further updates.

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