Toyota paid more than $1 billion to settle the economic damages MDL on sudden acceleration. So why do some observers say the company won?
November 22, 2013 at 12:00 AM
1 minute read
The original version of this story was published on Corporate Counsel
Note: This article has been updated to correctly identify John Hooper.
On the day after Christmas 2012, Toyota Motor North America announced that it had agreed to settle a giant class action over the sudden, unintended acceleration of some of its vehicles. It was the kind of announcement that was guaranteed to draw attention. The value of the settlement in the multidistrict litigation in Santa Ana, Calif., was $1.6 billion.
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