GM hit with $10B lawsuit

A lawsuit filed Wednesday in California states General Motors should compensate millions of car and truck owners for lost resale value, potentially exceeding $10 billion, because a slew of recalls and a deadly delay in recalling cars with defective ignition switches has damaged its brand.

According to a Reuters report, the lawsuit claims late-model vehicles' resale value has suffered by $500 to $2,600.

GM has issued recalls covering over 20 million vehicles this year alone, according to the report.

Read more from Reuters.