SACRAMENTO, Calif. --- Ford Motor Co. this week agreed to settle a class-action lawsuit filed by plaintiffs in four states who claimed their Explorers were prone to rollover and lost value because of that perceived risk. The settlement applies to about 1 million people in California, Connecticut, Illinois and Texas. It also ends all the outstanding rollover-related lawsuits against the company. The settlement, which concerns Explorers in model years 1991 through 2001, was expected to be filed in Sacramento County Superior Court this week. The agreement will allow vehicle owners to apply for $500 vouchers that can be used toward the purchase of new Explorers or $300 vouchers for other Ford or Lincoln Mercury products, the AP reported. The settlement also requires Ford to distribute warnings about the rollover dangers of SUVs and to limit safety claims in its advertising.

Originally posted on Fleet Financials