Toyota Settles for Record $1.1B Over Defects
Car company has recalled over 14M risky vehicles
By Newser Editors and Wire Services
Posted Dec 26, 2012 4:00 PM CST
In this July 27, 2008 file photo, the company sign hangs over a row of 2009 models at a Toyota dealership in the southeast Denver suburb of Centennial, Colo.   (AP Photo/David Zalubowski, File)

(Newser) – A plaintiffs' attorney says Toyota Motor Corp. has reached a settlement in a case involving hundreds of lawsuits over accelerations problems. Steve Berman said today the settlement, which still needs a federal judge's approval, was worth more than $1 billion and is the largest settlement in US history involving automobile defects. Toyota has recalled more than 14 million vehicles worldwide due to acceleration problems in several models and brake defects with the Prius hybrid. Toyota has blamed driver error, faulty floor mats, and sticky accelerator pedals for the unintended acceleration.

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Dec 27, 2012 12:01 AM CST
$1.1 billion. Oh, Pleeeeease. People died in crashes. Entire Families died in crashes. How much money do the families of the deceased victims and families receive? Most of the reward money goes to the attorneys. $1.1 billion is less than 1 week's earnings for Toyota. It seems that they rushed to settle before December 31, 2012 for income tax puposes.
Dec 26, 2012 9:28 PM CST
It's sad their quality control sinks in the name of the all mighty dollar.
Dec 26, 2012 6:06 PM CST
Just like tobacco companies or big banks, WHO US!