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As of early March 2010, records indicate there have been at least 89 class action lawsuits filed related to Toyota unintended sudden acceleration problems. The Associated Press estimates that the class action lawsuits could potentially cost Toyota Motor Corp. $3 billion.

Class Actions Claim Lost Value

According to the Associated Press, the class action lawsuits are mostly based on lost value in the vehicles. While these claims seek small financial awards for each member of the class, the number of people who are joining the class actions keep piling up. As a result, the potential loss experienced by Toyota continues to rise.

People joining the class actions claim they’ve lost money due to a sudden decrease in the value of their vehicle because of Toyota recalls, which have involved millions of popular models. Lawyers fighting on behalf of the plaintiffs claim Toyota knowingly concealed safety issues from the public.

The estimated cost of $3 billion does not include potential payouts for people filing individual Toyota acceleration lawsuits. The individual lawsuits would seek much more compensation as they would likely involve serious injuries and in some cases, death. Individual lawsuits alleging serious injuries and death could reach payout in the millions.

Is a Toyota Acceleration Class Action Appropriate?

Class action lawsuits are legal actions filed on behalf of multiple people who claim to have been harmed in the same way, by the same entity. In the class action suits brought against the large Japanese automaker, groups of people have come together alleging to have suffered economic losses as a result of Toyota’s recalls. The recalls involve vehicles that may be at risk of suddenly accelerating without the drivers’ intent.

Are You Eligible to Join a Toyota Class Action?

If you own a recalled Toyota and would like to find out if you are eligible to join a class action lawsuit, contact our law offices now. It is important to note that not all lawyers have the resources to investigate class action lawsuits. Online Lawyer Source has a network of qualified professionals who have the resources and experience it takes to successfully investigate class actions on behalf of injured consumers.

To find out more information about a Toyota sudden acceleration class action, call (800) 644-1883 or contact an auto defect attorney today and someone will be in touch shortly.

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