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The settlement cost the city $8.75m£4.65m5m).
The new claims could bring the total settlement cost to more than $1 billion.
However, we anticipate that the market may now price in the risk of a higher settlement cost in 2017.
"This settlement cost us much less than taking this case to trial," said a Firestone spokeswoman, Jill Bratina.
That applies to about three million shares, suggesting a settlement cost of about $6 million, an analyst said.
As a result of the scandal, the City of Los Angeles faced more than 140 civil lawsuits with an estimated settlement cost of $125 million.
Similar(44)
Settlement costs totaled $470 million.
The potential hit to revenue, not settlement costs, is the real fear.
The automaker will take a one-time $1.1 billion charge to its earnings cover the settlement costs.
Since 2003, it has barred companies from deducting settlement costs as a business expense.
Many claims also involve court litigation, which greatly magnifies settlement costs.
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