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 allege
Toyota proposes economic loss settlement worth up to $1.4 billion over unintended acceleration claims
Toyota announced a proposal today worth over a billion dollars to settle civil claims of economic loss related to alleged cases of sudden unintended acceleration in its vehicles from 2009-2010. Estimates place the cost of the settlement between $1.1 billion and $1.4 billion, which would, according to lawyers for the plaintiffs, make it the largest of its type in US history.
Judge James V. Selna has warned jurors in a wrongful death suit about suspicions surrounding Toyota. According to Inside Line, the warning comes tied to the automaker's conduct during an investigation of a 2008 Camry involved in a fatal crash allegedly caused by unintended acceleration. The single-car accident in Utah claimed the lives of the driver, Pual van Alfen, as well as one other passenger. Two passengers were also injured in the event on November 5, 2010. According to the report, two wee
Even though Toyota's unintended acceleration debacle is as ancient as Jurassic fleas for most of us, the California Distric Court of Judge James Selna is still chainsawing through a massive docket of claims. Judge Selna had been considering whether plaintiffs in California, New York and Florida could sue Toyota for economic loss related to the claims of unintended accleraton – the plaintiffs wanted Toyota to reimburse them for the alleged decline in value of their cars.
U.S. District Judge James Selna – who has presided over the unintended acceleration cases against Toyota since 2010 – says the automaker does not have the right to compel 20 named plaintiffs into arbitration. The plaintiffs are seeking class-action status for lawsuits covering economic losses from the alleged issue of unintended acceleration. Toyota had maintained that leasing and purchase agreements signed by the owners denies owners the right to class-action litigation.
If Toyota was hoping to end its ongoing unintended acceleration-related legal issues, the latest bit of courtroom news will make the automaker quite unhappy. U.S. District Judge James Selna has ruled that vehicle owners can sue Toyota over economic losses. Some Toyota owners claim the automaker is responsible for diminished resale value of vehicles wearing the Toyota badge.
Toyota is facing down a lawsuit that cites unintended acceleration as the cause of several accidents and a greater-than-normal reduction in resale values. Due to recent findings by NASA, Toyota now has more ammunition for its legal efforts to get these allegations dismissed.
According to Reuters, a federal judge has consolidated the majority of lawsuits filed against Toyota involving unintended acceleration. Over 100 such suits have been bundled together by U.S. District Judge James Selna, and temporary lead counsel has been chosen for both sides of the case. Expect a star-studded cast to show up for this one, including lawyers formerly involved with everything from Big Tobacco legislation to the Exxon Valdez oil spill.