Toyota to settle $25.5M US investor lawsuit over unintended acceleration fallout [cardvd-player.net]

Toyota Motor Corp. has decided to settle a class action lawsuit by shareholders for $ 25.5 million. The process began in early 2010 after reports of unintended acceleration accidents on debt incurred. The lawsuit wrongly revealed Toyota “safety and quality issues” in these reports accused.
The company later recalled that up to 10 million Toyota and Lexus in a program cost estimated at $ 5 billion. The consequences of the publicity attracted the value of the shares of the company for $ 30 billion.
The Maryland State Retirement and Pension System, a member of the class of the study had previously estimated a successful process could landed much as a payment of $ 124 million.
If you own shares of Toyota, but do not start spending money on their profits yet. First common shareholders were disqualified in demand in 2011. Only the investors’ claims are covered in American Depositary Shares of Toyota. Second, the agreement is only a suggestion for the present and yet to be approved by U.S. District Judge Dale Fischer.
A Toyota spokesman said in a statement that the company “is pleased to make the page on this legal heritage.” The plaintiff’s lawyer declined to comment.

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