IF YOU OWN OR LEASE OR PREVIOUSLY OWNED, PURCHASED OR LEASED A 2010-2015 PRIUS OR 2012-2017 PRIUS V, YOU COULD GET BENEFITS FROM A CLASS ACTION SETTLEMENT.

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Jul 01, 2022, 13:26 ET

The Settlement does not involve personal injury, death, or property damage.

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SEATTLE, July 1, 2022 /PRNewswire/ -- The following statement is being issued by Kroll Notice Media regarding the Toyota Prius Inverter/IPM Settlement.

There is a proposed class action settlement alleging certain Toyota Prius and Prius V vehicles contained defective inverters/ Intelligent Power Modules ("IPMs"). Toyota denies the allegations. The Court has not ruled on these claims. This notice is to inform you about the settlement and your options.

Who Is Included?

You are a Class Member for settlement purposes only and may be eligible for benefits if you:

(a)	Currently own or lease a 2010-2015 Prius or 2012-2017 Prius V vehicle that was the subject of Safety Recall E0E, F0R, J0V, and/or 20TA10 ("Subject Vehicle"), as of May 19, 2022; or

(b)	Owned or leased a Subject Vehicle any time before May 19, 2022.

What Does the Settlement Provide?

The settlement provides these benefits:

(i)	Customer Confidence Program: A 20-year/unlimited-mileage warranty enhancement, providing cost-free repair or replacement of the IPM or Inverter under certain conditions, starting from the first day the Subject Vehicle was in service, with an appeal process for any denials. For important details about benefits and appeal rights/deadlines review FAQ #10 at www.ToyotaPriusInverterSettlement.com.

(ii)	Cost-free loaner and/or towing program if certain conditions are met. For details about benefits and appeal rights/deadlines see FAQ #11 at www.ToyotaPriusInverterSettlement.com.

(iii)	Reimbursement: There is an initial $20,000,000 settlement fund to pay for reimbursement of unreimbursed IPM and Inverter repairs and replacements and/or related towing and rental car expenses incurred before the Final Effective Date, currently expected to be February 12, 2023, but likely subject to change. To receive a reimbursement, you must file a claim. For details, see FAQ #12www.toyotapriusinvertersettlement.com. If there is not enough money in the fund to pay valid reimbursement claims and those claims exceed $20,000,000, it will be replenished to cover them.

(iv)	Redistribution Check: If there is any money left in the settlement fund after reimbursement claims are paid, you may get a check from the Redistribution Fund. If you replaced an IPM or inverter and did NOT receive notice that you are automatically registered for this potential benefit, you must submit a timely Registration and Reimbursement Claim Form to be eligible. For details see FAQ #13.

(v)	Possible charitable, cy pres payments. If the settlement fund has a balance after Redistribution Checks are sent, that balance will go to Texas A&M University Transportation Institute. See FAQ #14.

What are Your Options?

Do Nothing. You will be legally bound by decisions of the Court, and you will give up any rights to sue for these claims.
Opt-Out. If you do not want to be bound by the Settlement, you must exclude yourself by October 26, 2022.
Object to the Settlement. You may submit an objection and explain why you do not like the settlement by October 26, 2022. You cannot both exclude yourself and object to the settlement. Please see FAQ #21 at www.ToyotaPriusInverterSettlement.com for important details/requirements.
File a Claim for Reimbursement and/or Register for Redistribution Check: You must submit a Registration and Reimbursement Claim Form to get reimbursement for out-of-pocket expenses. If you replaced an IPM or inverter and did NOT receive notice that you are automatically registered for the Redistribution benefit, you must also register to be eligible to receive money from the Redistribution Fund, if available. The deadline to submit is three months after the Final Effective Date, and is currently anticipated to be May 12, 2023, but is likely subject to change.

The Court will hold a hearing on January 13, 2023 at 10:30 a.m. at First Street United States Courthouse, 350 West 1st St., Los Angeles, CA, 90012, Courtroom 8A to hear any objections, determine if the Settlement is fair, and consider the Special Master's recommendation that Class Counsel be awarded $19.6 million in fees and expenses and a Service Award for Class Representatives of $5,000 each, to be paid separately by Toyota. For details review FAQ #23 at www.ToyotaPriusInverterSettlement.com. You may attend the Hearing, but you aren't required to.

Where Can I Find More Information?

This is only a summary. If you have questions or want more information about this lawsuit, the settlement and your rights, visit www.toyotapriusinvertersettlement.com. call 833-942-3997, or write to: Prius IPM Settlement Notice Administrator, c/o Kroll Notice Administration, P.O. Box 5324, New York, NY 10150-5324. ALL DATES ARE SUBJECT TO CHANGE. CHECK WEBSITE FOR REVISIONS & OTHER UPDATES.

SOURCE Kroll Settlement Administration