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Settlement worth more than $1 billion in Toyota acceleration cases gets preliminary approval

Published on December 28, 2012; Published on December 28, 2012

Topics :: Toyota Motor , US District Court , California , LOS ANGELES

LOS ANGELES, Calif. - A plaintiffs' attorney says a U.S. District Court judge in California has given preliminary approval to a $1 billion-plus settlement with Toyota Motor Corp. in cases involving unintended acceleration problems in its vehicles.

Attorney Steve Berman says Judge James Selna gave swift initial approval Friday.

Toyota has said the deal announced Wednesday will resolve hundreds of lawsuits from Toyota owners who said the value of their cars and trucks plummeted after a series of recalls stemming from claims that Toyota vehicles accelerated unintentionally.

The judge will hold a fairness hearing on June 13 and consider granting final approval to the settlement.

Claims seeking compensation for injury and death due to sudden acceleration are not part of the settlement; the first trial involving those suits is scheduled for February.

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