USDC Central District of California
CPM was Co-Lead counsel in a class action against Toyota Motor Corporation and its U.S. sales and marketing arms, Toyota Motor Sales, U.S.A., Inc. and Toyota Motor North America, Inc. arising from defective acceleration claims. United States District Judge James V. Selna appointed Frank M. Pitre as Co-Lead Counsel for the economic loss committee in the Toyota lawsuits. The multidistrict litigation involved more than 200 lawsuits divided into two groups: those seeking losses on behalf of consumers and others who have lost value on their Toyotas; and those seeking damages for people who have been injured or killed in a Toyota vehicle. On July 24, 2013, United States District Judge James V. Selna granted final approval of the settlement wherein Toyota agreed to pay a total of $1.3 billion over financial losses associated with acceleration problems reported in some Toyota and Lexus vehicles. Under the settlement, Toyota agreed to provide installation of brake override systems for many Toyota and Lexus models and agreed to establish a $250 million fund to compensate class members for economic losses suffered because they sold or traded in a vehicle or terminated a lease during a period when the car's value was diminished due to negative publicity.
