Toyota faces $1.1 billion settlement in runaway car lawsuit
The strange, twisting and lingering litigation against Toyota has been settled with the Japanese automaker agreeing to pay more than $1 billion to settle U.S. litigation via claims its vehicles suddenly and unintentionally accelerated. According to court documents the deal, pending California federal judge approval, includes direct payments to customers as well as installation of a brake override system in about 3.25 million vehicles. The terms include a $250 million fund for former Toyota owners who sold who sold or turned in their leased vehicles between September 2009 and December 2010 at reduced prices because of bad publicity. And there’s also a separate $250 million fund for owners not eligible for the brake override system. Plaintiff attorneys are slated to
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