DOJ confirms $1.2B settlement with Toyota


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.

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Comments (3)
  • U2A Ventures
    , contributor
    Comments (297) | Send Message
     
    Sucks for GM
    19 Mar 2014, 10:07 AM Reply Like
  • Paulo Santos
    , contributor
    Comments (30002) | Send Message
     
    GM is going to top that, yes.
    19 Mar 2014, 11:45 AM Reply Like
  • jackfleming06
    , contributor
    Comments (4) | Send Message
     
    Toyota was able to recover from a massive earthquake / tsunami impact, this is still only a probe that they bailed themselves out of.
    20 Mar 2014, 01:27 PM Reply Like
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