Toyota agrees to $1 billion settlement

Toyota Motor Corp has offered to settle its?acceleration case with a payment of more than?$1 billion.

By Reuters / December 26, 2012

Toyota Motor Corp President Akio Toyoda speaks during a news conference in Tokyo December 25, 2012. The company offered to settle its acceleration case for more than $1 billion.

Yuriko Nakao/Reuters

Enlarge

Toyota Motor Corp has agreed to pay more than $1 billion to settle U.S. litigation over claims that its vehicles suddenly and unintentionally accelerated, according to court filings made public on Wednesday.

Skip to next paragraph

' + google_ads[0].line2 + '
' + google_ads[0].line3 + '

'; } else if (google_ads.length > 1) { ad_unit += ''; } } document.getElementById("ad_unit").innerHTML += ad_unit; google_adnum += google_ads.length; return; } var google_adnum = 0; google_ad_client = "pub-6743622525202572"; google_ad_output = 'js'; google_max_num_ads = '1'; google_feedback = "on"; google_ad_type = "text"; google_adtest = "on"; google_image_size = '230x105'; google_skip = '0'; // -->

Subscribe Today to the Monitor

Click Here for your FREE 30 DAYS of
The Christian Science Monitor
Weekly Digital Edition

The deal, which must be approved by a California federal judge, includes direct payments to customers as well as the installation of a brake override system in about 3.25 million vehicles, plaintiff attorneys said.

The terms include a $250 million fund for former Toyota owners who sold vehicles at reduced prices because of bad publicity, and a separate $250 million fund for owners not eligible for the brake override system.

Plaintiff attorneys are slated to receive up to $200 million in fees and $27 million in costs, according to court documents.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/3vxDQSOYvoA/Toyota-agrees-to-1-billion-settlement

jason campbell doobie brothers jennie garth peter facinelli marques colston golden state warriors free agents nfl 2012 milwaukee bucks