Defects of acceleration: Toyota enters into an agreement upper $ 1 billion

Leaders Toyota Motor Corp.. have announced the signing of agreement valued over a billion dollars, following the filing of hundreds of lawsuits related to problems of accelerator in some of its vehicles.

In a statement, Toyota officials argue that this agreement will resolve cases involving motorists the value of their car, they said, had declined sharply as a result of a series of reminders had the conduct Japanese society after the discovery of such defects.

According to Mr. Steve Berman, a lawyer for the plaintiffs, the value of the proposed agreement is between $ 1.2 and $ 1.4 billion, and would be the most lucrative in the case of automobile defect in the history of the United States . Toyota will collect a single charge of $ 1.1 billion before taxes to cover the costs.

The proposed agreement was submitted Wednesday and must be approved by U.S. District Judge James Selna. He must study the proposal Friday.

The case has been filed there two years and divided into two parts: economic and unjustified death losses. In the case of the applications for economic losses, Toyota precise that it will offer a sum in cash to customers who sold vehicles, or returns achetee under a lease between September 2009 and December 2010 car.

The applications of victims demanding compensation for injuries or deaths related to sudden acceleration are not included in this agreement. The first trial in connection with these cases to be held in February.

"We fought and fought, and we assure that we believe to be a good deal considering the risks related to this litigation," he says Mr. Berman.

By Greg Risling