Lead lawyers in the class actions filed against Toyota in Colorado and across the country are adding claims that the vehicle manufacturer is guilty of racketeering under the Racketeer Influenced and Corrupt Organization Act (RICO).
Plaintiffs in the initial class actions claim that the resale value of their Toyotas has decreased because of problems of unintended acceleration that prompted the recall of millions of Toyota vehicles. If successful, this theory of damages could cost Toyota as much as $2 billion.
The lawsuits allege that Toyota knew of the unintended acceleration problems– possibly as far back as 2002– but Toyota nevertheless continued to advertise its vehicles as safe and reliable and concealed the problems from the public. If the RICO claims are proved, damages could approach $10 billion.
Support for the RICO claims is allegedly based upon Toyota documents and the congressional testimony of Toyota officials. Toyota has declined to comment on the litigation to date.
If you were the victim of a Toyota acceleration crash, please contact our automotive products liability lawyers today.
More Toyota postings:
Toyota Acceleration Defects Now Allegedly Linked to 34 Car Accident Deaths
Big Day for Auto Recalls: Toyota Recalls 437,000 Lexus and Prius and More than 7,300 Camrys while Honda Expands Previous Airbag Inflator—Related Recall with Another 437,000 Vehicles
Gas Pedal Defect Prompts Toyota Recall of Another 2.3 Million Vehicles in US
