Dec. 26, 2012: Toyota Motor Corp. today announced it will pay more than $1 billion to settle hundreds of lawsuits over acceleration problems in what is believed to be the largest settlement ever in the US involving auto defects.
The Japanese auto giant announced that the settlement will resolve cases involving auto owners who claimed the value of their vehicles was reduced because of sudden acceleration problems.
Under the deal, Toyota will: offer cash payments to eligible customers who sold or turned in their leased vehicles between September 2009 and December 2010; provide supplemental warranty coverage for certain vehicle components; retrofit additional non-hybrid vehicle models that are subject to a floor mat recall; and establish additional driver education programs and fund new research into safety technologies.
The auto maker had recalled more than 14 million vehicles worldwide due to acceleration problems in several models as well as brake defects with its Prius hybrids.
The Philadelphia personal injury lawyers of Ross Feller Casey, LLP have built an impressive, national reputation for winning lawsuits involving product defects.
Some notable examples of product liability lawsuit victories include:
• $19.2 million recovery for a child born with a club foot as a result of an anti-nausea drug his mother took.
• $10 million recovery in Pennsylvania for the family of a child killed by a collapsing cafeteria table.
• $8 million recovery for a factory worker injured in a workplace accident.
• $8 million recovery for an ironworker injured in a workplace accident.
• $7 million recovery for a wrongful death caused by defective auto product.
• $4 million recovery for a factory worker whose arm was injured in a defective machine.