Toyota agrees $1.2B deal to settle U.S. safety probe

Mar 20, 2014, 2:12 AM EDT
oyota Motor Corp. will pay $1.2 billion to settle US criminal charges that it lied to safety regulators and the public as it tried to cover-up deadly accelerator defects.
Getty/AFP, Justin Sullivan

Japanese carmaker Toyota has reached a $1.2bn (£720m) settlement with US regulators after a four-year inquiry into its reporting of safety issues. The criminal investigation came after Toyota recalled more than 10 million vehicles over issues with brakes, accelerator pedals and floor mats. Attorney General Eric Holder said Toyota had "intentionally concealed information" about the problems.
Toyota agrees $1.2bn deal to settle U.S. safety probe [BBC]
Toyota's $1.2 billion settlement may be model for U.S. probe into GM [Reuters]