Toyota Settlement: What's Comin' Our Way?

[Caretaker]

Do we need a lawyer to translate?

http://www.kcra.com/news/money/Toyota-t ... index.html" onclick="window.open(this.href);return false;

http://www.streetinsider.com/Guidance/T ... 70449.html" onclick="window.open(this.href);return false;

[jake75]

also see http://online.wsj.com/article/SB1000142 ... =djemTEW_h" onclick="window.open(this.href);return false;

"Although Toyota is steadfast that there were no other problems with its systems than those that were recalled, the settlement includes extended warranties on vehicles' engine-control module, cruise-control switch, accelerator pedal assembly, stop-lamp switch and throttle body assembly. Toyota maintains there are no problems with these parts."

". . . the settlement breakdown includes cash payments capped at $250 million to Toyota owners who sold or turned in their vehicles between Sept. 1, 2009, and Dec. 31, 2010, for lost value; $250 million in payments for car owners whose vehicles cannot be updated with brake-override systems; between $200 million and $400 million to install brake-override systems on up to 3.25 million vehicles; $400 million for extending warranties; and about $200 million in attorneys' fees."

The most cost effective way to deal with the floor mat issue might have been to give every owner a set of front Weathertech mats.