Ford Settles Ignition Suit
Oct. 25, 2001
HAYWARD, Calif. (AP) _ Ford Motor Co. agreed Thursday to reimburse current and former owners for repairs on millions of cars and trucks prone to stall because of a flawed ignition system.
The deal approved by a California judge could cost the automaker as much as $2.7 billion, according to an estimate from the plaintiffs. Ford attorney Richard Warmer disputed that estimate, without offering specifics.
``This will not be something that will have a material effect on the company's financial position,'' Warmer said.