General Motors unveiled the Cadillac Lyriq. FOX Business’ Grady Trimble with extra. SACRAMENTO, Calif. — General Motors Co. has agreed to a $5.75 million settlement with California concerning false statements the corporate made to traders about issues with its lethal ignition switches, state officers introduced Friday.The defective ignition switches led to a minimum of 124 fatalities and 274 accidents nationwide. The defect additionally resulted within the recall of greater than 9 million automobiles in 2014 — one of many largest recollects within the nation’s historical past — from the most important U.S. automaker as a result of the switches generally prompted the sudden termination {of electrical} techniques, together with energy steering and energy brakes.GENERAL MOTORS TO GO ALL-ELECTRIC BY 2035In 2015, GM agreed to pay a $900 million settlement to finish a U.S. Department of Justice prison probe, in addition to $1 million in 2017 to the U.S. Securities and Exchange Commission for an accounting case. Later that 12 months, the automaker settled with dozens of states for $120 million.TickerSecurityLastChangeChange %GMGENERAL MOTORS COMPANY53.60+0.03+0.06percentGM didn’t admit any wrongdoing as a part of the 2021 settlement with California, and the corporate’s media representatives didn’t instantly reply to a request for remark Friday.GET FOX BUSINESS ON THE GO BY CLICKING HERECalifornia’s settlement happened as a result of the state’s largest pension system, the California Public Employees’ Retirement System, misplaced tens of millions of {dollars} in GM inventory. The firm knew concerning the defective switches in 2005 however did not report it to federal authorities till 2014, officers stated and hid the issues from traders.Automakers should notify the National Highway and Traffic Safety Administration inside 5 days of discovering out a couple of security defect.CLICK HERE TO READ MORE ON FOX BUSINESS“General Motors cheated California twice –- first by concealing a deadly flaw in its automobiles, then by concealing the details concerning the flaw in its monetary disclosures, which affected the retirement investments of public servants throughout California,” Attorney General Xavier Becerra stated in a press release. “This settlement lastly holds GM to account.”