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News Breaks December 26, 2012 16:28 EDT TM Hagens 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 Check below for free stories on TM the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. June 17, 2013 13:27 EDT TM Toyota increases Japan sales target, Nikkei reports Subscribe for More Information 06:07 EDT TM States push automakers to sell no-emission cars, Bloomberg reports Subscribe for More Information June 12, 2013 14:09 EDT TM Toyota to introduce fuel cell sedan in U.S. in 2015, Nikkei reports Subscribe for More Information 12:18 EDT TM Toyota says unlikely to regain peak U.S. market share, Automotive News says Subscribe for More Information 11:24 EDT TM Toyota to meet U.S. Prius sales target, Bloomberg reports Subscribe for More Information 10:46 EDT TM Toyota sees meeting U.S. Prius sales target, Bloomberg says Toyota said its on target to meet its sales goal for its Prius model in the U.S., says Bloomberg. In April Toyota said it may have to adjust its target as declining gas prices weakened demand for the Prius, noted Bloomberg. Reference Link 07:23 EDT TM Electric car makers cut prices to catch Toyota, Globe and Mail reports Subscribe for More Information 07:09 EDT TM Toyota shifts to qualtiy from expansion, Reuters reports Toyota Motor (TM) said it’s unlikely to recapture its peak market share it held four years ago in the U.S. (GM, F), its biggest market, the latest sign the car maker is shifting to improving quality from aggressively expanding sales, reports Reuters.Reference Link 06:05 EDT TM On the Fly: Periodicals Wrap-Up WALL STREET JOURNAL: The tectonic plates of the world economy are shifting, moving the yield on the 10-year Treasury to the highest level in more than a year and shaking financial markets. Now, some constants are being questioned in markets, triggering paroxysms in stocks, bonds, commodities and the currencies of emerging markets, the Wall Street Journal reports...Drugstores (CVS, RAD, WAG) are preparing to change how they stock and sell a widely used emergency contraceptive after the Obama administration agreed to allow the pill to be sold over the counter to customers of all ages. Sold primarily under the brand name Plan B (TEVA, ACT, PRGO), the pill is currently stocked behind pharmacy counters, the Wall Street Journal reports...REUTERS: If currency turbulence in emerging markets becomes a full-scale investor flight, the Fed may have a new headache in deciding when to slow its dollar printing policy. The link between U.S. monetary policy and currency runs on the other side of the world could be tighter than many assume, Reuters reports...Toyota Motor (TM) said it’s unlikely to recapture its peak market share it held four years ago in the U.S. (GM, F), its biggest market, the latest sign the carmaker is shifting to improving quality from aggressively expanding sales, Reuters reports...BLOOMBERG: Exchange executives (NYX, NDAQ), long shielded from legal scrutiny in the U.S., have been put on notice that may be changing after federal regulators fined CBOE Holdings (CBOE) $6M for unprecedented lapses in supervision, Bloomberg reports...Borealis Infrastructure Management and its Kuwaiti-British partners abandoned their $8.3B bid for the U.K. water utility Severn Trent (SVTRY) as the offer deadline expired, Bloomberg reports. June 10, 2013 06:04 EDT TM Toyota reducing airbag suppliers, may help foreign suppliers, Bloomberg reports Subscribe for More Information June 7, 2013 07:52 EDT TM Indonesia approves tax breaks on low-emission cars, Bloomberg says Subscribe for More Information 05:54 EDT TM Toyota unveils revamped Corolla, WSJ reports Subscribe for More Information June 6, 2013 08:49 EDT TM Velti partners with Toyota for optimized mobile media campaigns Subscribe for More Information June 5, 2013 06:05 EDT TM Toyota to recall 242,000 vehicles for brake issue, Reuters reports Toyota Motor is recalling about 242,000 gas-electric hybrid vehicles worldwide, including the Prius model, due to a brake design flaw, reports Reuters. Reference Link Sign up for a free trial to see the rest of the stories you've been missing.