If You Currently or Previously Owned, Purchased, or Leased Certain Toyota, Lexus Vehicles, You Could Get Benefits from a Class Action Settlement.
There is a proposed settlement in a class action lawsuit against Toyota Motor Corp. and Toyota Motor Sales, U.S.A., Inc. (“Toyota”) concerning certain vehicles with electronic throttle control systems (“ETCS”). Those included in the settlement have legal rights and options and deadlines by which they must exercise them.
What is the lawsuit about?
The lawsuit alleges that certain Toyota, Lexus vehicles equipped with ETCS are defective and can experience unintended acceleration. Toyota denies that it has violated any law, denies that it engaged in any and all wrongdoing, and denies that its ETCS is defective. The Court did not decide which side was right. Instead, the parties decided to settle.
Am I Included in the proposed settlement?
Subject to certain limited exclusions, you are included if as of December 28, 2012, You own or owned, purchase(d), and/or lease(d) a “Subject Vehicle” that was:
The Subject Vehicles are identified at the settlement website and in the full settlement notice available on the website or through the toll-free number below. The class includes persons, entities and/or organizations.
This settlement does not involve claims of personal injury or property damage.
What does the settlement provide?
The proposed settlement provides for: (a) cash payments from two funds totaling $500 million for certain eligible class members; (b) free installation of a brake override system on certain Subject Vehicles; (c) a customer support program to correct any defect in materials or workmanship of certain vehicle parts for other eligible class members; and (d) at least $30 million toward automobile safety research and education. Some of these benefits require action by class members by or before certain deadlines.
Payments will vary depending upon several factors such as the number of claims submitted, the amounts claimed, and other adjustments and deductions.
What are my options?
If you do nothing, you will remain in the class and will not be able to sue Toyota about the issues in the lawsuit, but you may not receive certain cash benefits for which you may be eligible.
You can exclude yourself by May 13, 2013, if you don’t want to be part of the settlement. You won’t get any settlement benefits, but you keep the right to sue Toyota about the issues in the lawsuit.
You can submit a claim form by July 29, 2013, if you don’t exclude yourself, for any cash benefits for which you are eligible and which require a claim form.
You can object to all or part of the settlement by May 13, 2013, if you don’t exclude yourself.
The full settlement notice describes how to exclude yourself, submit a claim form and/or object.
The Court will hold a fairness hearing on June 14, 2013 at 9:00 a.m. to (a) consider whether the proposed settlement is fair, reasonable, and adequate and (b) decide the plaintiffs’ lawyers’ request for fees up to $200 million and expenses up to $27 million and other awards for Named Plaintiffs and Class Representatives. You may appear at the hearing, but you are not required to and you may hire an attorney to appear for you, at your own expense.