SAN FRANCISCO: A U.S. judge granted preliminary approval on Friday to Toyota Motor Corp's $1.1 billion settlement of a class-action lawsuit brought by consumers who lost value on their cars due to sudden, unintended acceleration.
U.S. District Judge James Selna in Santa Ana, California, scheduled a hearing in June for final approval of the deal, which was announced this week. It provides $500 million in cash for plaintiffs, plus installation of break override systems and a customer support program valued at about $600 million combined.
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