Toyota Settlement Filed: Proposed Payout Is $1.1 Billion
Toyota will soon know whether it can put the brakes on litigation that has been plaguing the automaker for the past three years.
Lawyers for Toyota filed a proposed settlement Wednesday, outlining the proposed payout for the company’s unintended acceleration problem.
The settlement will include a $1.1 billion payout from Toyota, including $250 million going to Toyota owners for the reduction in the value of the vehicle on vehicles sold between Sept. 1, 2009 and Dec. 31, 2010.
Another $250 million is allotted to those Toyota owners whose vehicles aren’t eligible for a brake-override system.
The company has been facing a lot of heat in the news recently, as the National Highway Transportation Safety Administration has accused the company of violating protocol regarding recalls of defective vehicles. As a result of the NHTSA investigation, Toyota was fined $17.35 million for its failure to properly report defective cars, reports The Motley Fool.
This fine, which came earlier this month, is also a record-setting fine.
And while it’s related to the class action lawsuit, it’s separate, in that it comes as an agency fine. The lawsuit, on the other hand, comes from Toyota consumers. It is one of the largest settlements ever in the history of the automotive industry, writes The Wall Street Journal.
Later today, the settlement is slated to be confirmed or denied by a judge. If all goes well, Toyota may finally be seeing an end to at least one part of this litigation nightmare.
The proposed Toyota settlement, however, does not include claims for personal injury and wrongful death related to the alleged acceleration problems. Those lawsuits will continue to move forward.
Related Resources:
- Search Boston Personal Injury Lawyers (FindLaw)
- Toyota Fined $17M for Delaying Lexus Recalls (FindLaw’s Boston Personal Injury News)
- Toyota Hit With Massive Penalty for Brakes Problem (FindLaw’s Philadelphia Personal Injury Law Blog)
2012-12-28 08:03:38
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.
| Online: | |
| Visits: | 1,609,558,189 |
| Stories: | 8,168,067 |
Whistler Blowers, Insiders
