Toyota Class Action Lawsuit for Sudden Acceleration Defect Ends in $1.6 Billion Settlement

By Joseph Low on July 25, 2013 - Comments off

In 2009 and 2010, Toyota Motor Corp. recalled more than 10 million vehicles worldwide due to sudden acceleration issues caused by sticky acceleration pedals and poorly designed floor mats. Owners of the recalled vehicles were not only put at serious risk of auto accidents, but also suffered significant economic losses as a result of the defective auto product.

According to Bloomberg, Toyota received final approval of a $1.63 billion settlement amount earlier this month in a major class action lawsuit filed on behalf of thousands of consumers. A U.S. District Judge in Santa Ana, California signed off on the agreement after receiving documentation stating how the money would be distributed. Toyota owners who lost money as a result of depreciation in the vehicles’ value would receive individual payments from $9.74 to as much as $10,000, depending on the model of the Toyota.

However, Toyota will continue to face personal injury and wrongful death lawsuits related to accidents allegedly caused by the sudden acceleration defect.

Auto makers are obligated to release only the safest products on the market, after testing to ensure that each vehicle and its parts are in working order. When unseen defects are discovered, the manufacturers can and should be held responsible for any resulting injuries or damages.

An experienced Long Beach product liability attorney can help injured victims pursue legal action for damages caused by manufacturer error or negligence. If you or a loved one has been injured by a mechanical malfunction or defect, contact Joseph H. Low IV to discuss your case. You may be eligible to receive compensation for medical costs, property damage, lost wages, and other losses from the responsible party. The initial consultation is free. Call (888) 454-5569 or fill out a consultation form online.

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