Filed under: Government/Legal , Safety , Toyota Toyota has already paid out millions and billions of dollars in settlements surrounding unintended acceleration , but the first lawsuit in the matter , which headed to a California court in July, has reached a verdict. Following the 2009 death of Noriko Uno, whose 2006 Camry was hit by another car and then sped out of control before crashing into a tree, the jury found that Toyota was not at fault in the crash. Even though the 2006 Camry (shown above) wasn’t involved in any of the unintended acceleration-related recalls and it was not equipped with a brake override, Automotive News reports that the jury’s verdict says there was no defect in the car and actually blames the entire incident on the driver that ran into Uno’s car – to the tune of $10 million. The accident started when the other driver ran a stop sign and hit Uno’s car, and the report says that medical conditions (including diabetes) caused Uno to fail to stop her Camry. The AN article also states that this lawsuit was a bellwether case for around 85 other personal-injury and wrongful-death suits against Toyota, but there are still many impending suits across the country. Scroll down for an official statement on this particular case from Toyota. Continue reading Toyota found not at fault in alleged unintended acceleration crash Toyota found not at fault in alleged unintended acceleration crash originally appeared on Autoblog on Fri, 11 Oct 2013 15:59:00 EST. Please see our terms for use of feeds . Permalink
Filed under: Government/Legal , Toyota , Earnings/Financials Slowly, the many loose threads still dangling after the unintended acceleration issue Toyota faced a few years ago are being resolved. The Orange County District Attorney’s office was believed to be the first DA’s office to take Toyota to court , its suit alleging that Toyota knew its cars had defects and continued to sell them. The suit sought to “permanently enjoin Toyota from continued unlawful, unfair, deceptive, and fraudulent business practices as it pertains to both consumers and competitors” and asked for $2,500 “for every violation of the Unfair Business Practices Act,” plus costs. That suit has now been settled, Toyota – without admitting fault or wrongdoing – agreeing to pay $16 million to the county. Half of the money will go to the Orange County Gang Reduction Intervention Partnership, another four million dollars to the OC DA’s office to investigate economic crime, the remaining four million being used to pay for the case. Toyota unintended acceleration lawsuit settled for $16M originally appeared on Autoblog on Mon, 08 Apr 2013 16:31:00 EST. Please see our terms for use of feeds . Permalink
Filed under: Government/Legal , Toyota Toyota announced today that it has reached a settlement with the Attorneys General of 29 states and one US territory that will resolve their complaints relating to recalls performed by the automaker from 2005-2010, including those related to sticky accelerators and malfunctioning floor mats that may have contributed to cases of unintended acceleration. The settlement includes a payout of $29 million to be divided among the states and US territory, as well as a commitment from Toyota “to take steps to make vehicle information more easily accessible to consumers to help them operate their vehicles safely and make more informed choices.” The settlement also has Toyota continuing its rapid-response service teams and quality field offices that were put in place shortly after the largest of the recalls from 2010, as well as a “range of customer care amenities for owners of vehicles subject to certain recalls,” though the press release below isn’t specific about what those amenities might be. This settlement marks the second major step in the last few months that Toyota has taken to settle legal disputes surrounding the unintended acceleration recalls, the first being a $1.4 billion settlement to address economic loss suffered by owners of current and past Toyota vehicles that may have lost value on account of these recalls. Continue reading Toyota settles complaints with states Attorneys General for $29 million Toyota settles complaints with states Attorneys General for $29 million originally appeared on Autoblog on Thu, 14 Feb 2013 17:43:00 EST. Please see our terms for use of feeds . Permalink
Filed under: Government/Legal , Safety , Toyota , Earnings/Financials The Toyota settlement recently submitted to US District Judge James Selna for approval will cost the company anywhere from $1 billion to $1.4 billion. All to settle the class-action suit brought against it for economic losses stemming from claims of unintended acceleration . This suit only addresses the perceived loss-of-value that Toyota owners and lessees feel they have suffered, alleging their cars were the victims of unintended depreciation even if they did not directly suffer from the alleged cases of unintended/sudden acceleration. This is a separate case than the wrongful death suits brought about by the unintended acceleration brouhaha. When the settlement was announced, this was the overview of its payouts: Toyota will install brake override systems in all 3.25 million vehicles subjected to the floor mat entrapment recall . Another fund of $250 million will compensate current owners whose vehicles are not eligible for the free brake override system. A fund of $250 million will compensate former Toyota owners who sold their cars from September 1, 2009 through December 31, 2010 for lost value. Education grants valued at $30 million will be made to independent academic institutions to further study auto safety and enhance driver education. All 16 million current Toyota owners will be eligible for a customer care plan that warrants certain parts allegedly related to unintended acceleration for three to 10 years. Car and Driver attempts to break down where all that largesse is going, and who’s going to get large off of it.
Filed under: Government/Legal , Recalls , Lexus , Toyota Toyota Motor Corp. has decided to settle a shareholder class action lawsuit for $25.5 million. The suit began in early 2010 after reports of accidents attributed to unintended acceleration cropped up. The class action accused Toyota of improperly disclosing “safety and quality issues” related to those reports. The company later recalled as many as 10 million Toyota and Lexus vehicles in a program estimated to cost $5 billion. The public relations fallout dragged down the company’s stock value by $30 billion. The Maryland State Retirement and Pension System, a member of the lawsuit class, had previously estimated a successful trial could have ended with as much as a $124 million payout. If you hold Toyota stock, though, don’t start spending your winnings just yet. First, common stockholders were disqualified from the suit in 2011. Only claims by investors in Toyota’s American Depository Shares are covered.
Filed under: Etc. , Government/Legal , Ford , Toyota Ford is suing former marketing executive Martin Collins as the result of a job he took with a Toyota distributor. The Detroit Free Press reports that Collins took a position as president of Gulf States Toyota; an apparent violation of his employment contract with Ford. Collins had been the general sales manager of the Ford and Lincoln brands since May. Ford is seeking $25,000 in damages for the alleged employment contract breach and the automaker is also looking to ban Collins from taking the job. Ford said in the suit that the company is concerned that Collins could supply “confidential or proprietary information and/or trade secrets that is valuable and gives a competitive advantage to the company.” Collins’ attorney, William John Bux, counters that the former Ford employee is actually employed by the Friedkin Group – not Gulf States Toyota. Bux adds that Collins will not interact with Gulf States Toyota until after the non-compete clause ends. Ford suing former exec over new Toyota-related job originally appeared on Autoblog on Thu, 17 Nov 2011 09:29:00 EST. Please see our terms for use of feeds . Permalink