Toyota, a company that has built a reputation for reliability, certainly has a target on its back after a year filled with recall woes. In fact, things have gotten so bad for the Japanese automaker that it now ranks as the fifth most sued company in America. Perhaps more shocking is that it has nearly six times as many pending lawsuits as its nearest auto-rival (in both sales and lawsuits), General Motors.
According to information from the Public Access to Court Electronic Records (PACER), Toyota is named as a defendant in 1,873 court cases, nearly twelve-times that of 2009. In total, General Motors is named in 299 cases – a significant drop from 1,817 in 2009 (possibly due to the company’s bankruptcy filing).
These numbers don’t tell the whole story, however, with PACER only listing Federal court cases. For this reason, BP (remember the oil spill) ranks very low on the list as most litigation is being handled through state courts.
Ahead of Toyota are Wells Fargo and Bank of America, while Goodyear sits in second and General Electric tops the list.