A U.S. judge gave preliminary approval Friday to a $1 billion-plus settlement with Toyota Motor Corp. in cases involving problems of sudden, unintended acceleration by its vehicles, a plaintiffs’ attorney said.
Attorney Steve Berman said in a statement he was pleased District Judge James Selna gave swift initial approval.
Toyota has said the deal, announced Wednesday, will resolve hundreds of lawsuits from motorists who said the value of their Toyota vehicles plummeted after recalls stemming from claims that the Japanese automaker’s cars and trucks accelerated unintentionally.
The preliminary approval means current and former Toyota owners included in the settlement will receive information through notices expected to be mailed in early March. Information about the settlement will also be published in newspapers.
Selna plans to hold a fairness hearing June 13 to consider granting final approval.The Associated Press