Toyota settles lawsuits over faulty vehiclesDecember 27, 2012 3:38 pm Leave your thoughts
The Toyota Motor company has agreed to settle a class action lawsuit related to unintended acceleration in its vehicles, according to the New York Times. Toyota will pay more than $1 billion in settlement costs.
The proposal was filed in Federal District Court in California and, if approved by the judge, it will require the company to install special security features in as many as 3.2 million vehicles as well as provide cash payments due to financial loss in multiple recalls. After a multitude of complaints were received, more than eight million vehicles had to be recalled.
"This agreement marks a significant step forward for our company, one that will enable us to put more of our energy, time and resources into Toyota's central focus: making the best vehicles we can for our customers," Christopher Reynolds, Toyota's chief legal officer, told the news source.
The company, however, must still handle multiple wrongful death and personal injury lawsuits along with cases brought against the business by 28 state attorney generals. The settlement funds will either go directly to the consumers or to funding the car repairs, according to National Public Radio.
Arizona companies will need to determine that they follow all protocols in their state, including consumer protection and safety laws, to avoid the type of problems Toyota is undergoing. Providing safety and security to both staff and customers is of the utmost importance if a company wishes to have a positive public image.
Businesses in Arizona that need assistance with lawsuits and disputes filed by consumers should reach out to a business law attorney in Phoenix who can envision the best options for handling the resolution of the case.
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