Toyota Motor has agreed to pay over $1 billion to settle a class-action lawsuit over unintended acceleration issues in its vehicles. If the settlement is approved, it will be one of the largest of its type in automotive history, but Toyota admitted no fault in proposing the settlement.
The class-action suit was filed in 2010 after complaints were made to federal regulators that Toyota automobiles were causing accidents and injuries by accelerating suddenly and without warning.
According to court filings, about 16 million Toyota, Scion, and Lexus vehicles sold in the U.S. with model years spanning from 1998 through 2010 are covered by the settlement.
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