The latest recalls for Toyota involve 8,000 2010 Tacoma 4WD trucks with drive shaft problems. This in addition to its Feb. 9 recall of nearly half a million of its hybrid vehicles, including the latest version of the popular Prius model, with braking issues.
Given the scale of the recalls and the massive publicity exposure, Toyota stands to lose a great deal during litigation. Indeed, attorneys and firms are already gearing up for the lit firestorm. The Mingledorff Law Firm in Houston says it plans to hire more staff for Toyota litigation specifically, and on Feb. 1 filed a wrongful death suit , Michael Cleighton Harris, et al. v. Toytoa Motor Sales, U.S.A., Inc., et al. in the 189th District Court of Harris County.
Meanwhile, the National Highway Traffic Safety Administration is continuing its formal investigation into Prius braking problems, as a result of 124 complaints and four crashes blamed on the brakes, and several other lawsuits are in the works.
No matter the outcome of the individual lawsuits it will certainly be interesting to track the fallout from Toyota's manufacturing problems. Regulatory action in the auto industry seems likely given the mindset of the current administration. Tightened regulations in other industries, including pharma and finance, have paved the way for sweeping regulatory action, massive sanctions and long-term corporate compliance agreements for other industries.
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