You may remember this story that exploded all over the news. Around the end of 2009 and start of 2010, the news reported that some Toyota cars had sudden-acceleration defects.
Toyota recently settled a federal class action. U.S. District Court Judge James V. Seina approved of the federal class action settlement. The settlement approved is for $1.6 billion, which includes attorney fees and costs calculated at $227 million. The class members are said to receive anywhere between $125 to $10,000 each.
Toyota has denied liability for the alleged sudden-acceleration problem with the vehicles, as provided in the language of the settlement. The ABA reports that a spokeswoman for Toyota stated,
This agreement allows us to resolve a legacy legal issue in a way that provides significant value to our customers and demonstrates that they can depend on Toyota to stand behind our vehicles,
It is important to note that Toyota is still facing trials in more than 80 state court lawsuits over the alleged sudden-acceleration defects.