- Category: Class Action Lawsuit Alerts And News Information
Toyota Class Action Lawsuit Settlement
After more than two years of hard work by attorneys , investigators , professional specialist and engineers working in conjunction with the law firm staff required to win in these major class action lawsuits filed against large corporations … Do I Have A Lawsuit can now announce that a settlement has been reached in the Toyota Class Action Lawsuit cases related to defective acceleration systems in their vehicles that were causing some models to accelerate unexpectedly.
The Toyota Class Action Lawsuit has been settled for over 1.2 billion dollars and is now possibly the largest lawsuit settlement amount in United States history for any type of litigation involving motor vehicle recalls or automobile defects.
While there had been reports of personal injury as a result of the defects the primary basis of the lawsuit was the fact that as a result of these defective acceleration systems , owners of Toyota vehicles were subject to a reduction in resale / ownership value of their vehicles as a result of the defect.
The settlement will bring to an end the hundreds of lawsuits filed by Toyota owners against the automobile manufacturer as a result of these defective systems.
Do I Have A Lawsuit readers , supporters and network attorneys should note that although this settlement has been proposed and will likely be signed off on. We must still await approval by U.S. District Judge James Selna and we expect that he will review the proposed class action lawsuit settlement on Friday.
Readers should also note that although all cases were consolidated in U.S. District Court in santa Ana, this settlement does not include cases where injury or death was a result of Toyota vehicles accelerating on their own. Those accident and personal injury lawsuit cases are scheduled to be heard during court trials starting in February 2013.
This settlement pertains to those of you who suffered economic loss as a result of vehicle devaluation only.
Part of this settlement calls for cash payments to Toyota customers wo sold or leased automobiles between 2009 and 2010.