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Settlement reached in Toyota acceleration cases

Rickey Stokes

Viewed: 3302

Posted by: RStokes
Date: Dec 26 2012 8:33 PM

LOS ANGELES —



Toyota Motor Corp. said Wednesday it has reached a settlement worth more than $1 billion in a case involving unintended acceleration problems in its vehicles.


The company said the deal will resolve hundreds of lawsuits from Toyota owners who said the value of their cars and trucks plummeted after a series of recalls stemming from claims that Toyota vehicles accelerated unintentionally.


Steve Berman, a lawyer representing Toyota owners, said the settlement is the largest in U.S. history involving automobile defects.


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