UPDATE: Just like that, Toyota has released an official statement confirming its $1.2-billion dollar settlement with the US Attorney's Office. Our story has been updated to reflect this development and the automaker's official statement has been added below.
According to those all-too-nebulous "people familiar with the matter," Toyota is close to a settlement with the US federal government to end a criminal probe over its long-running unintended acceleration fiasco. Though Toyota has never admitted guilt, the deal could reportedly crest a billion dollars and would likely include a criminal deferred prosecution agreement, and while we're not legal
So far, the lawsuits brought forth against Toyota for unintended acceleration have gone both ways: the automaker was found not at fault in a 2009 California crash and liable for a 20
A jury has decided that faulty software was to blame for a crash involving a 2005 Toyota Camry that killed one woman and injured another. This is the first time Toyota has been found liable by a jury in a lawsuit involving sudden acceleration claims. Toyota has maintained that driver error is the most likely cause for cases of sudden acceleration.
Toyota has already paid out millions and billions of dollars in settlements surrounding unintended acceleration, but the Jeffrey N. Ross
Toyota is surely readying its trial lawyers, as the Japanese giant is officially headed to court in a pair of cases relating to its unintended acceleration fiascos of 2009 and 2010.
Toyota's sales seem to have rebounded from the unintended acceleration issues from 2009 and 2010, but the automaker is far from done dealing with this situation. Following a settlement worth up to $1.4 billion for economic loss to affected vehicle owners, Jeffrey N. Ross
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 su
Following news that Toyota has proposed a massive settlement to address the owners of vehicles effected by the unintended acceleration recall, shares for the automaker are up 2.6 percent. Over the course of this year, Toyota's stock
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
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 l
With all the news coming out recently about the small claims lawsuit over the Honda Civic Hybrid, readers may have forgotten the name behind a long-running legal issue over Toyota's hybrid system: Paice. The latest development is that Paice and the Abell Foundation (an investor in Paice) have sued Hyundai
U.S. District Judge James V. Selna has dismissed the first unintended acceleration lawsuit against Toyota in California on the grounds that it should have been filed in Utah. Automotive News reports that the case was brought to court by the families of two people killed in a Utah crash in 2010.
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 ow
The California court system has found that Toyota Motor Insurance Services does not violate the state's consumer warranty law. According to Automotive News, a court of appeal found that the contracts offer enough services outside of the factory warranty to be considered legal. Toyota was originally sued after Weber DeSiqueira purchased a then-new 2007 Tundra. At the time, the vehicle
Toyota has been granted the ability to gather financial data on 81 plaintiffs filing lawsuits against the automaker over losses associated with claims of unintended acceleration. According to The Salt Lake Tribune, two private judges ruled that the automaker could, in fact, secure information from banks, lending
According to WMGT Channel 41 of Georgia, automakers are facing increasing scrutiny regarding the safety of their keyless start systems. According to the NBC affiliate, there are at least three carbon-dioxide related deaths – one in New York, and a pair in Florida – that are being blamed on the technology.
It looks like it will be some time before Toyota enters the court room for the very first of the mountain of lawsuits that were bundled by a federal judge in relation to sudden-acceleration claims.
Can't say we didn't see this one coming... According to the Associated Press, seven insurance companies* are suing Toyota in California court for damages in excess of $230,000. We suspect that figure could rise, as it's derived from just 14 of the alleged 725 total accidents the insurers claim Toyota is at least partially at fault for.
According to The Detroit Free Press, Toyota has agreed to settle the case in which four people died in a runaway Lexus to the tune of $10 million. The crash, which occurred in August 2009, killed an off-duty police officer, his wife, brother-in-law and daughter and set off a torrent of recalls and investigations into just how long the Japanese automaker had known about unintended acceler