Cash Payments and Other Benefits Are Available for Eligible Current and Former Owners and Lessees of Certain Toyota Vehicles

PORTLAND, Ore., Aug. 15, 2023 /PRNewswire/ -- The following statement is being issued by Kroll Settlement Administration regarding the Toyota Airbag Control Unit Settlement.

Toyota has agreed to a class action settlement (the "Settlement") to resolve claims that certain Toyota vehicles ("Subject Vehicles") contain a defective airbag control unit.

WHAT IS THIS LAWSUIT ABOUT?
Plaintiffs allege that the airbag control unit equipped in the Subject Vehicles are vulnerable to a condition called electrical overstress, which may cause the vehicles' airbags and other safety features to fail during a collision. Toyota denies the allegations brought against it in the lawsuit but has agreed to the Settlement to resolve the case. The Court has not decided who is right.

WHO IS INCLUDED IN THE SETTLEMENT?
You may be included in the Settlement if you currently own, lease, or previously owned or leased a Subject Vehicle, subject to certain exclusions. Certain Subject Vehicles were recalled by Toyota on January 17, 2020 ("Recalled Vehicles"), to address issues with the airbag control unit (NHTSA Recall No. 20V-024, the "Recall").  If you have not completed the Recall, it remains available. Other Subject Vehicles that are not part of the Recall ("Unrecalled Vehicles") are still included for benefits in the Settlement.  Please visit www.AirbagControlUnitSettlement.com or call 1-833-747-5737 for a complete list of Subject Vehicles.

WHAT ARE THE SETTLEMENT BENEFITS?
The Settlement provides $78.5 million in cash and credits in addition to an Extended New Parts Warranty and other benefits. The proposed Settlement provides:

• Reimbursement for certain out-of-pocket expenses related to the Recall;
• Potential payment of up to $250 from funds remaining after all eligible out-of-pocket expenses and other settlement costs have been paid;
• An extended warranty for Recalled Vehicles that complete the Recall;
• A robust vehicle inspection program;
• An outreach program for Subject Vehicles that are part of the Recall; and
• A potential rental car reimbursement, loaner vehicle, and outreach program if there is a future airbag control unit recall for Subject Vehicles that are not currently part of the Recall.

WHAT ARE MY OPTIONS?

• File A Claim: If you incurred certain out-of-pocket expenses to complete the Recall for your Subject Vehicle, you may submit a claim for reimbursement. The deadline to submit a claim is to be determined, but will not be before December 16, 2026. Please visit www.AirbagControlUnitSettlement.com or call 1-833-747-5737 for more information about how to submit a claim.
• Register For a Potential Residual Payment: You may register for a potential payment of up to $250 from funds remaining after all eligible out-of-pocket expenses and other settlement costs have been paid. The deadline to register is to be determined, but will not be before December 16, 2026. Please visit www.AirbagControlUnitSettlement.com or call 1-833-747-5737 for more information about how to register for a Residual Distribution Payment.
• Complete The Recall And Receive The Extended New Parts Warranty: Recalled Vehicles that have already completed the Recall will receive the Extended New Parts Warranty. Recalled Vehicles that have not yet completed the Recall will receive the Extended New Parts Warranty once the Recall is completed.
• Object: You may write to the Court to explain why you do not like the Settlement. If you object to the Settlement, you will remain a member of the Class (if you are otherwise eligible) and you will still release the claims covered by this Settlement. If you make an objection, you must still submit a claim to receive compensation under the Settlement. The deadline to Object is October 20, 2023.
• Exclude: If you wish to exclude yourself from the Settlement and not receive settlement benefits, you must submit a request to exclude yourself from, or "opt out" of, the Settlement. If you do so, you will preserve your rights to sue Toyota.  The deadline to Exclude yourself is October 20, 2023.
• Go To The Fairness Hearing: The Court will hold a hearing on November 16, 2023, at 11:00 a.m., to consider whether to grant final approval to the Settlement and counsel's request for fees and expenses. The hearing date may change, so please check the Settlement website regularly for updates. You do not need to attend, but are welcome to at your own expense.
• Do Nothing: If you are a member of the Class and do nothing, you will not receive the benefits provided under the Settlement, and you will give up the right to sue Toyota about the issues in the lawsuit.

For more information, visit www.AirbagControlUnitSettlement.com or call 1-833-747-5737. Please do not contact the Court.

SOURCE Kroll Settlement Administration