Williams said the lawsuit, if certified by the court, would not be for damages from injury or death but rather for the loss in value that Toyota owners have sustained since the beginning of the Japanese automaker’s troubles several weeks ago.
The lawsuit, according to Williams, will be filed for the loss that has been realized by owners of Toyotas as a result of certain malfunctions and deficiencies related to autos manufactured by the Japanese car maker. Williams said since Toyota’s mechanical problems were first publicized, Toyota owners have lost significant value in their personally owned vehicles.
Williams said, based on the testimony of Toyota’s president before Congress two weeks ago, the automaker had known about the problems with the vehicles made by the company for several years. Toyota, Williams charged, chose to not disclose to the public the problems of their vehicles and in doing so made fraudulent misrepresentations. He said if Toyota buyers had known about the defects in the vehicles they likely would not have bought them.
Toyota’s problems began several weeks ago when complaints surfaced about accelerator pedals sticking on many models made by the automaker including the company’s luxury Lexus line. Hundreds of thousands of vehicles made by Toyota have been recalled to have the malfunction repaired.
According to Williams, Toyota models dating back to 2001 or 2002 may be affected by what he termed as an electronic control system that may be at fault causing unintended acceleration. Some drivers have told of personal experiences in which their Toyota-made vehicle accelerated out of control to speeds greater than 100 miles per hour, and some fatal crashes are being blamed on the now well publicized malfunction.
Toyota sales have fallen off sharply since the problems surfaced publicly and so has the value on several Toyota models. Williams said Toyota owners have sustained a loss in value to their vehicles and deserve an opportunity to reclaim the financial damage they have realized. Williams is joined in the lawsuit by Knoxville attorney Bryan Capps.