December 26, 2012 |
Toyota Motor Corp., moving to put years of legal problems behind it, has agreed to pay more than $1 billion to settle dozens of lawsuits relating to sudden acceleration. The proposed deal, filed Wednesday in federal court, would be among the largest ever paid out by an automaker. It applies to numerous suits claiming economic damages caused by safety defects in the automaker's vehicles, but does not cover dozens of personal injury and wrongful-death suits that are still pending around the nation.
December 26, 2012 |
Toyota Motor Co. has announced an agreement worth more than $1 billion to settle a lawsuit involving unintended acceleration in some of its vehicles. Under terms of the settlement, filed Wednesday in federal court in Santa Ana, Toyota will install a brake-override system in an estimated 3.25 million vehicles and compensate car owners for the alleged reduced value of the vehicles, among other terms. According to attorneys for the plaintiffs, the estimated value of the settlement makes it the largest of its kind, although there have been larger non-auto industry class settlements in recent years.
December 14, 2012 |
The nation's top auto-safety regulator has escalated and broadened an investigation into sticking floormats in Ford, Lincoln and Mercury vehicles that could cause sudden unintended acceleration. This week the National Highway Traffic Safety Administration upgraded the probe, originally launched in May 2010, to an engineering analysis, its highest and most serious grade of investigation. In addition, it expanded the scope to include almost twice as many vehicles as originally being reviewed.
November 15, 2012 |
Toyota Motor Corp. on Wednesday announced two safety recalls for its flagship Prius hybrid and a separate agreement to pay $25.5 million to settle a shareholder lawsuit related to its sudden acceleration problems. In one recall, the automaker said the steering intermediate extension shafts in 670,000 Prius cars sold in the U.S. need to be inspected and in some cases replaced. In the second recall, 350,000 of those hybrids also will have to have their electric water pumps replaced.
November 14, 2012 |
Toyota Motor Corp. has agreed to settle a shareholder class-action lawsuit related to its sudden acceleration problems for $25.5 million. The settlement would put to rest allegations that the company hurt the value of its stock by hiding defects and other safety problems as well as by not acting swiftly to address vehicles that accelerated out of control. Those problems came to the surface in late 2009 following a horrific San Diego County accident that killed a family of four in a Lexus.
July 13, 2012 |
WASHINGTON - A U.S. senator has raised concerns about a government investigation of sudden unintended acceleration problems in Toyota vehicles, saying the probe might have erroneously ruled out the company's electronic throttle control system as a cause. Sen. Charles E. Grassley (R-Iowa) said whistle-blowers recently have provided his office with information suggesting that the investigation by the National Highway Traffic Safety Administration, with the help of NASA engineers, "may have been too narrow.