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A federal judge will decide next month whether to approve a “landmark” class action lawsuit settlement covering over 22 million Toyota owners who were negatively affected by reports of unintended acceleration. If approved, the Toyota settlement will provide $1.26 billion to resolve the massive litigation, which is being called one of the largest – if not the largest – automobile defect settlement in the U.S. history.
Notices of the Toyota unintended acceleration settlement went out in February and March to millions of current and former Toyota, Scion and Lexus owners advising them of the proposed class action lawsuit settlement.
The deal will resolve a massive consolidated case (In Re: Toyota Motor Corp. Unintended Acceleration Marketing, Sales Practices and Products Liability Litigation) that accuses Toyota of selling these vehicles with defective electronic throttle control systems (“ETCS”) that caused some vehicles to experience sudden and unintended acceleration, resulting in a significant decline in value of these vehicles. The case does not involve claims of personal injury.
Class Members can elect to receive a free brake override installation that will automatically reduce engine power when the brake pedal and the accelerator pedal are applied simultaneously under certain driving conditions, or a cash payment of between $37.50 and $125.
The only way to receive a cash payment is to submit a valid Claim Form by July 29, 2013.
Toyota has also agreed under the class action settlement to pay $14.2 million for a driver education media campaign, $15 million for research into active safety features and $800,000 for a consumer study on defense driving and proper use of vehicle safety systems.
The settlement also includes $200 million in attorneys’ fees and $27 million in costs.
U.S. District Judge James Selna will decide whether to issue final approval to the Toyota acceleration class action settlement at a June 14 Fairness Hearing in California.
Claim Forms and more information on your rights and eligible benefits in the Toyota Unintended Acceleration Economic Loss Class Action Lawsuit Settlement can be found at www.ToyotaELSettlement.com. Detailed claims filing instruction can be found in our Open Class Action Lawsuits section.
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One thought on ‘Landmark’ Toyota Class Action Settlement Heads to Approval Hearing
I filed for the Toyota class action and hopefully will receive a check. I turned in my cars early to my disadvantage and am hoping I’ll get more than $125.00. Actually I had two Toyotas; both Corollas and they told me one would be eligible for a “brake fix”, but I don’t have that car anymore.