San Jose, CA: Some 20 million current and former owners of Toyota vehicles may share in a $1 billion settlement of an Toyota Unintended Acceleration class action lawsuit, if the proposed settlement received final court approval.
The settlement would resolve a series of class action lawsuits, consolidated in 2010 as In Re: Toyota Motor Corp. Unintended Acceleration Marketing, Sales Practices and Products Liability Litigation.
In the consolidated action, plaintiffs claimed that certain Toyota, Scion and Lexus vehicles equipped with electronic throttle control systems ("ETCS") are defective and can experience acceleration that is unintended by the driver. This alleged defect has resulted in a drop in the value of the vehicles. Consequently, the plaintiffs claim breach of warranties, unjust enrichment, and violations of various state laws.
Eligible members of the class include any person, entity or organization who, at any time before December 28, 2012, owned, purchased, leased and/or insured for residual value one several models of Toyota, Lexus and Scion vehicles.
If you are a class member, you may be entitled to one or more of the following:
A cash payment for alleged loss upon certain disposition of a Subject Vehicle during the period from September 1, 2009 and December 31, 2010 or upon early lease termination following an alleged unintended acceleration event that you reported.
Installation of a brake override system (BOS) in certain Subject Vehicles at no charge.
A cash payment if your Subject Vehicle is not a hybrid and is not eligible for a BOS.
Participation in a Customer Support Program.
Other settlement benefits.
For complete information on your rights in the Toyota unintended acceleration class action lawsuit settlement, visit: ToyotaELSettlement.com.