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$1B deal major step in Toyota legal trouble



Published: Thu, December 27, 2012 @ 11:17 a.m.

LOS ANGELES (AP) — With a proposed payout of more than $1 billion, one major chapter of a nearly four-year legal saga that left Toyota Motor Corp. fighting hundreds of lawsuits and struggling with a tarnished image has ended, though another remains.

The settlement — unprecedented in its size according to a plaintiff's attorney — brings an end to claims from owners who said the value of their vehicles plunged after recalls over sudden and unintended acceleration.

Lawsuits claiming that the defects caused injury or death remain, with the first trial beginning in February unless another major deal comes first.

Steve Berman, a lawyer representing Toyota owners, said the settlement is the largest in U.S. history involving automobile defects.

"We kept fighting and fighting and we secured what we think was a good settlement given the risks of this litigation," Berman told The Associated Press.

The courtroom claims began with a highway tragedy. A California Highway Patrol officer and three of his family members were killed in suburban San Diego in 2009 after their car, a Toyota-built Lexus, reached speeds of more than 120 mph, hit an SUV, launched off an embankment, rolled several times and burst into flames.

Investigators determined that a wrong-size floor mat trapped the accelerator and caused the crash.


Comments

1AnotherAverageCitizen(1174 comments)posted 1 year, 6 months ago

Folks would be all over this if it were GM. Sure looks bad for Toyota.

http://www.vindy.com/news/2012/dec/27...
Toyota Motors said Wednesday it was recalling 2.77 million cars worldwide, its second major recall in as many months.

The recall mainly covers certain Prius models and was prompted by a problem with the steering intermediate extension shafts, which can suffer damage if sharp turns are made at slow speeds.

A second problem with electric-powered motor pumps affected some 630,000 vehicles, the company said. The fault may result in a failure of hybrid systems during operation.

The automaker said 670,000 of the recalled cars were sold in the United States. Owners will be notified by mail starting in December.

An additional 1.5 million vehicles were being recalled in Japan, along with 496,000 in Europe.

A spokesman for the company in Tokyo said the recalled Prius cars were of the model's second generation. Certain Corolla models are also affected.

Wednesday's recall is the latest embarrassment for Toyota, which last month announced a recall of 7.43 million cars due to a power window problem that posed a fire risk.

That recall was the largest issued by an automaker in years.

In 2009 and 2010, more than 8 million Toyota units were brought in for a potential problem involving sticky accelerator pedals. In that case, dealers were told to suspend sales of eight models, and production of those models stopped temporarily

Suggest removal:

2AnotherAverageCitizen(1174 comments)posted 1 year, 6 months ago

So where oh where did all the Toyota love go?

You are pretty quiet today..

Suggest removal:


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