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Toyota Pays More Than $1 Billion to Settle Lawsuits

By Orlando Personal Injury Attorney on December 31, 2012

Late December brought important news for people who filed claims against Toyota Motor Corp. for accidents, injuries and deaths in connection with sudden, unintended acceleration in Toyota vehicles. Earlier this month, we blogged about a $17.35 million fine filed against Toyota by the National Highway Traffic and Safety Administration for reacting slowly to floor mat problems in some Lexus vehicles. That fine has now been dwarfed by a record $1 billion payout by Toyota to settle hundreds of lawsuits filed by owners who said that the value of their Toyota vehicles plummeted after the automaker issued recalls to correct unintended acceleration problems. The settlement came as a surprise to James O. Cunningham and other Orlando Toyota recall accident attorneys, as it is unprecedented in its size. It is the largest in U.S. history that involves product liability in automobiles.

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