GM ignition switch lawsuit: Judge throws out $1B settlement

A federal bankruptcy judge on Thursday said a settlement agreement that would require General Motors to pay $1 billion in stock to car owners suing the company over faulty ignition switches was not enforceable.Judge Martin Glenn of the U.S. Bankruptcy Court in New York said the agreement that car owners had reached with a trust, often referred to as "old GM," that holds many GM liabilities from before its 2009 bankruptcy was not valid without signatures.