Toyota To Pay $25.5 Million To Shareholders For Mishandled Recalls

Toyota Motor Corp. agreed to pay $25.5 million to settle claims from shareholders who said they were harmed by the Japanese automaker's recall for unintended acceleration of millions of vehicles in 2009-10, court documents filed Tuesday show.

The proposed settlement, filed in U.S. District Court in Los Angeles, covers all U.S. Toyota shareholders who bought stock between May 2005 and Feb. 2, 2010. The settlement said there are "tens of thousands" of people who purchased stock during the nearly five year period. The company did not admit wrongdoing.

The negative publicity initially wiped out $30 billion in Toyota's market capitalization, lawyers for the shareholders said.

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USNA1999 - 11/14/2012 12:47:41 PM

+1 Boost

This is BS! I have lost pleanty of money on bad investments. Why should they get rewarded? They should have sold when the negative publicity started. Just look at AAPL, it has gone from $700 to $550 in less than month just on negative publicity eventhough the company is making billions. This is the risk we all take when we invest!

HughJass - 11/14/2012 3:56:00 PM

+1 Boost

Yeah, negative publicity because lineups weren't as long as expected eventhough the product is still sold out.

Sheeple, that's all day traders are.

$25 million is peanuts to Toyota, especially since the Yen is at an all time high.

wins555 - 11/15/2012 1:10:01 AM

+1 Boost

peanuts and loose change!