Massive Ignition Switch Recall Weighs Heavy On GM's Profits

General Motors has one more recall-related lawsuit to add to its growing stack, but this time it isn't about the company's ignition switch fiasco. The latest case claims owners lost value on vehicles dating back to 2009, including those that the automaker never recalled. The law firm filing the suit thinks it could affect over 15 million vehicles in the US and be worth over $10 billion.

Law firm Hagens Berman Sobol Shapiro filed the case against GM in the Central District of California on June 18. The attorneys hope to get class-action status to cover potentially any owner of the company's vehicles made between July 10, 2009, and April 1, 2014. The lawsuit alleges that the continual recalls from the automaker this year "has so tarnished the affected vehicles that no reasonable consumer would have paid the price they did," cites Reuters, and claims that the business put profits ahead of safety to sell sold sub-standard models to consumers.

GM was already facing about $10 billion in lawsuits related to just the ignition switch recall, but so far, the automaker has vehemently fought back against allegations of lost resale value to its vehicles. In one recent example, Kenneth Feinberg, who is running the company's compensation fund, responded that he had no intention of negotiating with these claims, and he asked to judge to throw out the case. However, with lawyers apparently smelling blood in the water, it's hard to imagine that keeping them at bay.