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U.S. Weighs Wire-Fraud Charge Against General Motors
The Wall Street Journal (online registration required): The U.S. Justice Department is weighing charging General Motors Co. with criminal wire fraud stemming from the auto maker’s failure to recall millions of vehicles equipped with a defective ignition switch, said people familiar with the matter.
Federal prosecutors in New York are focusing on the charge after determining GM likely made misleading statements and concealed information about the faulty switch, now linked to more than 100 deaths, the people said. They are hoping to reach a settlement with the company by the end of summer or early fall, though the timing could slip, they said.
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