Toyota To Pay $1B To Settle Runaway Acceleration Lawsuits
Toyota Motors announced that it will settle a class action lawsuit concerning runaway acceleration lawsuits in which certain Toyota and Lexus models automatically and mysteriously accelerated to dangerously high speeds – resulting in numerous deaths and injuries and a recall of 14 million vehicles worldwide. The $1 billion settlement is one of the largest of its kind in history.
Runaway Toyota Settlement Details
Under the proposed settlement terms, Toyota would:
- Make million of dollars in cash payments for the loss of value on vehicles affected by recalls.
- Install special safety features on over three million automobiles.
- Contribute millions of dollars to fund automotive safety research associated with driver behavior and unintended acceleration.
- Create a customer support program for the more than 16 million Toyota owners; all are eligible for free repairs on specific parts for the next decade.
The $1 billion settlement is in addition to the $60 million fine imposed on Toyota by the National Highway Traffic Safety Administration (NHTSA) for failing to warn regulators about known sudden acceleration issues in a timely manner.
Toyota Lawsuits Continue
Numerous personal injury, wrongful death and unfair business practice lawsuits are still pending against Toyota. If you have been injured due to sudden acceleration issues with your Toyota or Lexus or involved a car accident and need a qualified lawyer, please contact us immediately to discuss your situation.