Toyota Motor Corp. on Wednesday agreed to pay $1.1 billion to settle hundreds of claims related to sudden unintended acceleration in its vehicles. The settlement covers claims from Toyota owners who said their car lost value as a result of a massive recall of more than 10 million defective vehicles. Beasley Allen shareholder W. Daniel “Dee” Miles, who served on the settlement committee and discovery committee in the litigation, explained to WSFA reporter Samuel King that anyone who owned a Toyota from 2009-2010 and experienced a sudden unintended acceleration event will be able to make a claim. The settlement, which is pending approval by U.S. District Judge James Selna, would be the largest of its kind in the U.S. involving an auto manufacturer. This settlement agreement does not include claims of personal injury and wrongful death related to sudden unintended acceleration events. Those cases are scheduled for trial in February 2013.
December 28, 2012