UPDATE: A study released Thursday night by a public interest group, The Center for Auto Safety, claims that there were 303 deaths in recalled General Motors Company (NYSE: GM) cars in which airbags did not deploy. The study examined federal data to reach its conclusion.
What's more, the group's report states that GM intentionally misrepresented raw information about the crashes.
Since Thursday's release, GM has fired back, saying the deaths are tied to problems with the ignition.
"Without rigorous analysis, it is pure speculation to attempt to draw any meaningful conclusions," the company said in a statement. "In contrast, research is underway at GM and the investigation of the ignition switch recall and the impact of the defective switch is ongoing."
This all began to unfold in February, when General Motors recalled 1.6 million vehicles. Then, it was only one in a slew of early 2014 recalls from the likes of Toyota Motor Corp. (NYSE: TM), Ford Motor Corp. (NYSE: F), and Tesla Motors Inc. (Nasdaq: TSLA).
But it turns out GM's recall is markedly different from the rest. That's because GM knew of the defect that's caused fatal and nonfatal crashes since as early as 2001, it admitted late Wednesday.
For its inaction, brand faith - and GM stock - will suffer.
"This is going to be a legacy issue for years to come," Money Morning Capital Wave Strategist Shah Gilani said to Neil Cavuto on FOX Business in February.
Here is a summary of the GM recall details:
"This latest GM recall involves 22 crashes and six fatalities tied directly to a design issue," Kelley Blue Book senior analyst Karl Brauer said to USA Today.
Gilani pointed out that several more instances may surface.
But what really sets this recall apart is the news of how long GM knew about the defect without acting.
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Before its admission this week, we'd pieced together the history of GM's knowledge of the ignition defect.
Back in 2005, GM sent a technical service bulletin warning to dealers about a stalling problem related to heavy key rings in the 2005-2006 Cobalt.
And a deposition from a 2010 civil lawsuit shows that in 2004, GM knew the Cobalt had an ignition switch that could involuntarily shut off the engine while driving. GM settled that case for an undisclosed amount with the plaintiff - the estate of the 29-year-old pediatric nurse who died in a fatal crash the day after picking up her 2005 Cobalt from the dealer, where she'd taken it for ignition switch problems, according to documents obtained by USA Today.
It goes back even further.
"GM has known about an ignition problem since the 1960s," Gilani said.
He's referring to a fix-it column called "Gus Wilson's 'The Model Garage,'" run from 1920 through the 1960s in Popular Science magazine. In one issue, a customer's stalling engine was resolved by removing several keys from her key ring.
"[This recall] is certainly a reason for investors to hold back," Gilani said. "If I own GM stock, I'd want to look at some floor to get out if it continues to drop - it's going to get hit on this. I wouldn't touch the stock, and it's going to be a legacy issue for years to come."
Watch the following video for Gilani's full breakdown of the GM recall, plus two automakers he recommends for investors - and the two he would avoid: