Hagens Berman Responds to Toyota's Recall of 2.1 Million Vehicles
SEATTLE - Steve Berman, managing partner of Hagens Berman and co-lead counsel in the Toyota (NYSE: TM) litigation, issues the following statement in response to Toyota's recent recall of 2.1 million vehicles.
"The recent recall of another 2.1 million vehicles in addition to the 14 million recalled globally underscores the basis of our floor-mat defect claim in our case against Toyota. This latest recall stands in sharp contrast to Toyota's repeated declarations that they know where the floor-mat problems existed, and they have already acted to correct them. This is obviously not the case, and this sort of revelation calls into question the veracity and credibility of the other claims the company has made regarding this issue.
This latest recall also substantiates the economic loss claims detailed in our suit. If you ask an average consumer whether a Toyota is worth more or less today, in light of these serial recalls, I would venture to say that the majority will say 'less.'
Over the years, Toyota has spent millions of dollars in branding itself as building extraordinarily well-designed, safe autos. That brand promise has been seriously eroded, if not irreparably damaged by their handling of these problems. That loss of brand value has a direct economic impact on those who own Toyotas, and those consumers deserve to be compensated for the loss."
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