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Attorney: Settlement Reached In Toyota Recall Case

LOS ANGELES (AP) — A plaintiffs’ attorney says Toyota Motor Corp. has reached a settlement in a case involving hundreds of lawsuits over accelerations problems.

Steve Berman said Wednesday the settlement, which still needs a federal judge’s approval, was worth more than $1 billion and is the largest settlement in U.S. 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.

A phone message left with Toyota’s attorneys was not immediately returned.

Copyright 2012 The Associated Press.


One Comment

  1. insiderhedge says:

    Reblogged this on Insider Hedge.

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