DOJ confirms $1.2B settlement with Toyota

|About: Toyota Motor Corporation (TM)|By:, SA News Editor

The Justice Department confirms it reached a settlement with Toyota (TM) to put an end to a criminal probe into the automaker over its handling of a sudden acceleration issue with popular models.

The $1.2B fine is the largest ever assessed against an automaker.

Execs will have to adhere to the terms of the settlement to see a single deferred count of wire fraud be dismissed in three years.

Previous: Settlement report, investor reaction

Shares of Toyota are only mildly lower, down 0.3%, with the settlement largely anticipated and the finality of the agreement removing a bit of an overhang.