Toyota Settles Class-Action Lawsuit for $1 Billion
After lengthy negotiations, Toyota Motor Corp. has settled a class-action lawsuit with Toyota owners in the wake of safety issues between September 2009 and December 2010.
The settlement, valued at over $1 billion, will be distributed in part via a $250 million pool for customers who have sold or turned in leased vehicles in the affected years. The lawsuit claimed that the resale value of Toyota vehicles dropped steeply after several recalls related to accelerator...