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Toyota Agrees To Pay $1B In Settlement of Acceleration Cases

Chima Simone |
December 26, 2012 | 5:32 p.m. PST

Executive Producer

Toyota admitted no fault in the settlement. Thirty models are affected, including the Toyota Camry midsize sedan and Corolla compact car.
Toyota admitted no fault in the settlement. Thirty models are affected, including the Toyota Camry midsize sedan and Corolla compact car.
Toyota Motor Corp has agreed to pay as much as $1.4 billion to settle U.S. litigation claims that its vehicles suddenly and unintentionally accelerated, according to court filings made public Wednesday, Reuters reports.

The settlement is awaiting a federal judge's approval.

According to plaintiffs' attorney Steve Berman, the settlement is worth more than $1 billion. That would make it the largest settlement in U.S. history involving automobile defects.

Toyota noted that the settlement was a "significant step forward" as the Japanese automaker has seen its image tarnished from the multiple lawsuits.

Read more details of the settlement here.

Follow Executive Producer Chima Simone on Twitter.



 

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