Toyota’s $1.1 Billion Settlement Delayed image

An US judge said that the final approval for Toyota’s settlement of claims related to the unintended acceleration has been delayed.

Toyota’s $1.1-billion settlement of claims according to which the recalls for unintended acceleration affected the value of US customers’ vehicles has been delayed. Group action has been filed on behalf of Toyota customers who complained that the automaker drove down their vehicles’ value by failing to disclose and fix the issue.

U.S. District Judge James V. Selna in Santa Ana, California, was the one who granted preliminary approval for this settlement in December 2012 and on Thursday, June 13th, he issued a tentative ruling granting a final endorsement.

“The court believes that the proposed settlement is fair, adequate, and reasonable,” Judge James Selna said in his order. “Certain difficulties in the plan of allocation of the settlement funds preclude the court’s final approval of the proposed settlement at this time.”

The lawsuit was filed in a West Virginia federal court and alleges that more than 30 vehicles fitted with electronic throttle control system were not equipped with reliable safety systems, such as a brake override system. The 30 vehicles involved in the lawsuit were Mercury, Ford and Lincoln cars built from 2002 to 2010 and several 2004-2010 Ford F-Series pick-up trucks, which are the best-selling vehicles in the US, the 2005-2009 Lincoln Town Car and the 2002-2005 Mercury Cougar.

Source: Autonews