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Stock Market & Financial Investment News

News Breaks
December 26, 2012
16:28 EDTTMHagens Berman: Toyota agrees to fund a settlement of cases worth up to $1.4B
The attorneys representing Toyota (TM) owners who claim that their vehicles are prone to sudden, unexplained acceleration announced that Toyota has agreed to a settlement valued between $1.2B and $1.4B, which includes direct payments to consumers as well as the installation of a brake-override system in an estimated 3.25M vehicles. Under the terms of the proposed settlement, Toyota will install a brake-override system in vehicles subject to floor mat entrapment recalls. In addition, the settlement establishes a fund of $250M to be paid to former Toyota owners who sold their cars during the period from Sept. 1, 2009, through Dec. 31, 2010, to compensate those owners for an alleged reduced value as a result of publicity concerning unintended acceleration. A separate fund of $250M will be established to compensate current owners whose vehicles are not eligible for a brake-override system. The settlement also provides that all 16M current owners will be eligible for a customer care plan that will warranty certain parts that plaintiffs allege are tied to unintended acceleration for between three and 10 years. The agreement also provides $30M in education grants to independent academic institutions to further the study of auto safety and to enhance driver education. Judge James Selna is expected to review the proposed settlement on Dec. 28, 2012, and if he agrees with its fairness, will grant preliminary approval.
News For TM From The Last 14 Days
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October 23, 2014
13:11 EDTTMToyota sold Tesla shares, partnership ties reduced, Nikkei says
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07:58 EDTTMAutomakers under increased scrutiny after wide ranging air bag recall, WSJ says
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October 22, 2014
11:33 EDTTMToyota exec aims to keep Takata despite airbag defect, Reuters says
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06:24 EDTTMNHTSA says over 6M cars involved in Takata airbag recalls
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October 20, 2014
10:32 EDTTMToyota recalls 247K vehicles equipped with faulty Takata air bags
Toyota Motor Sales, U.S.A. announced plans to conduct a supplemental safety recall of approximately 247,000 Toyota Corolla, Matrix, Sequoia, Tundra and Lexus SC vehicles produced from 2001 to 2004 and equipped with front passenger airbag inflators supplied by Takata Corporation. This action intensifies Toyota’s efforts to reach customers and remedy previously recalled vehicles, and a small number of newly included vehicles, in certain geographic areas that appear to warrant immediate action, based on testing by the supplier. Reference Link
October 16, 2014
06:34 EDTTMChina to punish automakers that miss fuel standards, Reuters reports
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October 15, 2014
06:54 EDTTMWatchdog says Toyota JV issued recall for over 93K vehicles, Reuters says
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06:44 EDTTMToyota issues recall for 1.67M cars due to brake defect, Reuters says
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October 14, 2014
18:12 EDTTMToyota to manufacture SUVs in Turkey starting in 2016, Nikkei reports
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05:34 EDTTMToyota reports September global hybrid sales surpassed 7M unit mark
Toyota announced global hybrid sales surpassed the 7M unit mark in September. Toyota achieved this latest million-unit hybrid milestone at the record pace of nine months. Including hybrid vehicles launched this year, Toyota will introduce at total of 15 new hybrids globally through 2015. Hybrids launched this year comprise the Lexus Voxy Hybrid and Noah Hybrid in Japan only, and the Lexus NX 300h. This month Toyota will introduce the Lexus RC 300h. Toyota plans to continue expanding its hybrid lineup and increase the number of countries and regions where it sells hybrid vehicles.
October 13, 2014
06:44 EDTTMRegulators seeking banks' auto loan data, Reuters reports
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