Toyota Settles Acceleration Class Action Lawsuit For $1.1 Billion

Detroit, MI: Toyota Motor Corp has agreed to a $1.1 billion settlement of a pending defective products class action lawsuit.

The lawsuit stemmed from complaints that a flaw in Toyota' electronic throttle-control system, and not ill-fitting floor mats and sticky accelerator pedals, were to blame for unwanted acceleration of Toyota vehicles, which caused drivers to lose control and crash.

According to the terms of the settlement, as reported by the Wall Street Journal, Toyota will pay $1.1 billion to install new safety equipment and reimburse as many as 16 million customers.

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Published on Dec-27-12