A report in The New York Times shows that the months of legal wrangling has paid off for 750,000 owners of 2008 and 2009 Accords and the 2009 (plus a few 2010 models) Acura TSX. Honda has reportedly agreed to settle the suit without admitting responsibility or any wrongdoing, while also providing cash to customers with the brakes in question. Owners who have already gotten their brakes done will receive one half of the cost of repairs, or a maximum of $125, whichever is less. The owners in question will also receive $150 towards the cost of a set of new rear brake pads that Honda says will last longer than the units being replaced. The law firm handling the case will reportedly receive $ 2 million for its efforts. In total, Honda could be on the hook for well over $100 million if all affected owners receive new brakes.
With the class-action suit settled, the next step is for Judge Margaret M. Morrow of the United States District Court for the Central District of California to give the agreement an official seal of approval in May.
[Source: The New York Times]