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Ford Settles Ignition Suit

October 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.

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