Toyota reaches settlement in sudden acceleration case
12/27/2012 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Japan – Toyota Motor Corp has reportedly reached a settlement with plaintiffs in a case involving claims that some of the company’s vehicles were prone to sudden acceleration. As reported by the Associated Press (AP), the settlement announced on Wednesday, was for over approximately $1 billion.
Included in the settlement terms are the establishment of a fund for former Toyota owners who sold their vehicles during a specified time period, the installation of a brake-override system in approximately 3.25 million vehicles, and allocated sums for education grants for auto safety and driver education studies at independent academic institutions.
These and other provisions of the settlement must receive a federal judge’s approval.
Details about the settlement have reportedly been made available at http://www.hbsslaw.com/toyota, http://www.ToyotaELsettlement.com, or by calling 1-877-283-0507.
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