Posted: Mar 9, 2010 9:27 AM by Associated Press
First the recalls, now the lawsuits.
At least 89 class-action suits have been filed by Toyota owners who claim that massive safety recalls are causing the value of their vehicles to plummet. The suits could cost the automaker $3 billion or more.
The figures don't include potential payouts for wrongful death and injury lawsuits, which could reach in the tens of millions each.
One law professor says class-action suits "are more scary for Toyota" than injury cases. Tom Baker of the University of Pennsylvania says, "A super-big injury case would be $20 million." But he says there could be millions of individual car owners who could be owed $1,000 each.