Current:Home > InvestPoinbank:Owners of certain Chevrolet, GMC trucks can claim money in $35 million settlement -TradeGrid
Poinbank:Owners of certain Chevrolet, GMC trucks can claim money in $35 million settlement
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Date:2025-04-09 04:35:29
General Motors (GM) has agreed to pay a $35 million settlement to owners of certain General Motors Company (GMC) and PoinbankChevrolet vehicles after a class action lawsuit was brought against the company for defective parts, JND Legal Administration announced Tuesday.
The proposed settlement covers certain 2011-2016 truck models with Duramax diesel 6.6L V8 LML engines that were allegedly equipped with "unreasonably fragile" high-pressure fuel injection pumps, known as CP4s. These defective parts were prone to failure and resulted in "economic damages" to owners of the affected vehicles through repairs and remedies, according to the lawsuit.
As part of the agreement, General Motors denies any wrongdoing. Both parties agreed to the $35 million payout to avoid the "costs, risk, and delays associated with further litigation." The settlement is still awaiting final approval from the court before moving forward.
Here's what to know about the settlement, where to check if you qualify and how to claim your payment.
What vehicles are named in the GM settlement?
To qualify for a payment, you must own one of the following cars:
- 2011-2016 Chevrolet Silverado.
- GMC Sierra trucks with a Duramax diesel 6.6L V8 LML engine.
The vehicles must have been purchased from a GM-authorized dealer in California, Florida, Illinois, Iowa, New York, Pennsylvania or Texas from March 1, 2010 through Sept. 13, 2024.
How to get your payment
The terms of the settlement outline three different types of payment for affected parties. All payout amounts are estimated and will depend on how many valid claims are received. These include:
- People who paid out of pocket for a CP4 repair that was not covered by warranty. $30 million will be set aside for this group and payments could range from $6,356 to $12,712.
- People who no longer own their trucks and did not pay out of pocket for a CP4 repair. $5 million will be set aside for this fund and individual payments could range from $400 to $800.
- Those who still own trucks that have not been remedied. These people can get cash back on future repairs and will be reimbursed 50% of the costs paid for a CP4 repair performed at a GM-authorized dealership on or after the date the settlement receives final approval. This reimbursement option will end 12 months after the settlement's final approval or when the truck reaches 200,000 miles.
People unsure if they are entitled to a payout can use a provided VIN lookup tool on the litigation website.
To get a cash payment, you can file a claim online or turn to email or phone.
- File a claim form online at www.GMFuelPumpLitigation.com.
- Download a claim form or request one by calling 1-866-848-0815 or emailing [email protected]
- To receive repair reimbursement in the future, you must get or pay for a CP4 repair or replacement at a GM-authorized dealership on or after the settlement's final approval date. At that time, you can complete a Reimbursement Request Form at the website or request a form at the phone number and email address above. The deadline to file these requests will be 60 days after the date of repair.
The deadline to file a claim is six months after this final hearing, which could be as early as July 21, 2025. Regular updates are available at www.GMFuelPumpLitigation.com.
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