A class of approximately 20 million Toyota vehicle owners should begin receiving notices of the $1 billion class settlement, which alleged that Toyota’s much-publicized unintended acceleration problems caused the value of Toyota vehicles to decline.
Toyota Motor Corp. said on December 26, 2012 that it would spend $1.1 billion to settle a sweeping class action lawsuit by owners of millions of vehicles that were recalled for problems with unintended acceleration.
Toyota Motor Corp has agreed to spend $1.1 billion to settle sweeping U.S. classaction litigation over claims that millions of its vehicles accelerate unintentionally, as the Japanese automaker seeks to move past the biggest safety crisis in its history. Shares of Toyota rose nearly 3 percent in Tokyo following the news, with some investors saying the settlement removed one uncertainty for the company and looked manageable given its improving sales outlook and a weaker yen. Continue reading “Toyota settles unintended acceleration case for $1.1 billion”
Toyota Motor Corp. has agreed to settle a shareholder class action lawsuit related to its sudden acceleration problems for $25.5 million. The settlement would put to rest allegations that the company hurt the value of its stock by hiding defects and other safety problems as well as by not acting swiftly to address vehicles that accelerated out of control.
The judge to whom the MDL panel sent all the Toyota unintended acceleration cases to, Judge Selna, ruled tentatively that Toyota Motor Corp. can’t force named plaintiffs in a purported class-action lawsuit over alleged losses from unintended sudden acceleration to arbitrate their claims rather than proceed to trial.
U.S. District Judge James Selna in Santa Ana, California, said in a tentative ruling yesterday that Toyota waived its right to compel arbitration for 15 of the 20 plaintiffs and that, for the remaining five, the carmaker wasn’t a party to the arbitration agreements between the plaintiffs and the Toyota dealers. A hearing is scheduled February 27 in federal court in Santa Ana, where Toyota’s lawyers may try to persuade the judge to change his decision. Continue reading “Judge Selna rejects Toyota’s attempt to force automobile buyer’s claims to arbitration”
A proposed class action alleging economic losses on behalf of consumers in California and a few other states, caused by alleged sudden, unintended acceleration by Toyota vehicles, will begin in July 2013, the federal judge overseeing the multidistrict litigation said on October 11, 2011.
Toyota Motor Corp. agreed to settle a class-action lawsuit with U.S. owners over headlights that shut off without warning in its 2006-2009 Prius hybrids. Under the terms of the settlement, eligible Prius owners will be reimbursed for the cost to fix the headlight systems, and warranties for headlight problems will be extended to five years or 50,000 miles from the standard three years or 36,000 miles. Continue reading “Toyota Settles Class Action Regarding Prius Headlights”
A federal judge tentatively ruled on Friday, November 19, 2010, that he would leave intact the bulk of a consumer class-action case against Toyota seeking damages for economic losses stemming from complaints about cars that raced out of control. U.S District Judge James Selna in Santa Ana, California, held that Toyota car owners stand to recover any compensation awarded under the lawsuit for lost resale value regardless of whether they personally experienced sudden unintended acceleration. The ruling means the prospective consumer class will approximate 40 million individuals, although no class has been certified yet. Continue reading “Judge keeps bulk of Toyota consumer suit intact”
Lawyers for the plaintiffs in the multidistrict litigation (MDL) cases against Toyota consolidated before Judge Selna in the Central District of California have filed a consolidated complaint, joining all the claims for economic injuries into one action. The consolidated complaint asserts that all class members suffered economic injuries because their vehicles declined in value following recalls tied to sudden acceleration problems.
The complaint asserts that Toyota violated California consumer fraud statutes. The complaint does not assert that any product liability laws were violated, because courts have rejected those types of claims under product liability laws. More than 200 lawsuits are pending in the MDL in Santa Ana, California.