The Toyota unintended acceleration issues are a very familiar one in the automotive industry, as it has been regularly brought up since customers began reporting the problem, back in 2009.
Now, though, according to Bloomberg, the company has won approval of a settlement, which will have them paying some $1.63 (€1.23) billion in order to cover the loss of value owners noticed after the first self-accelerating cars were reported, and even after the problem was solved with a recall (of more than 10 million vehicles).
John P. Hopper, a lawyer for Toyota said, “this settlement is focused on getting the maximum amount to our customers,” so that the litigation can be put to rest. In addition, “those people who submitted claims are getting 100 percent of their claims in this settlement,” says Steve Berman, a lawyer for the plaintiffs, explaining that the value of the payments will range from $9.74 to $10,000, depending on model and a number of various other factors.
However, one thing the $1.63 billion doesn’t cover are the wrongful death lawsuits, which warrant their own separate investigation, trial, conclusions and solution. We will keep you updated on the matter and will post news as soon as it becomes available.
By Andrei Nedelea
Photo Credits: Salem News
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