Chicago, April 14, 2022 – Chicago lawyer Todd A. Smith, a founding partner of Smith LaCien LLP, today praised the ruling of Miami-based U.S. District Judge Federico A. Moreno. The judge recently granted final approval to a $42 million settlement automakers Volkswagen and Audi reached to resolve multidistrict litigation over their alleged use of defective Takata Corp. airbags, as well as a $12.6 million attorney fee award from that total.
The settlement with Volkswagen Group of America Inc., Audi of America LLC and their affiliates covers 1.35 million vehicles and is modeled on settlements previously approved with seven other automakers, according to the plaintiffs’ motion for approval filed in September 2021.
The class is composed of more than 1 million members across the U.S. Smith who served as co-lead Counsel for Economic Loss with David Boies, a partner in Boies Schiller Flexner LLP, said, “Justice has been done although nothing can bring the horrific injuries and loss of life which the victims suffered.”
Smith was also a co-lead counsel on a 2018 case against Nissan and Honda that resulted in a class settlement of $702.7 million. Decided by Judge Moreno, the funds compensated millions of vehicle owners for money they lost due to the huge Takata airbag recall. In 2014, Smith said his law firm sued seven other automakers including Toyota, Mazda, Subaru, BMW, Honda, Nissan and Ford. Judge Moreno approved a $550 million settlement against four of the companies.
