Toyota Close to $1B Settlement With Feds: Report

Toyota Close to $1B Settlement With Feds: Report

Toyota might reach a deal soon with the U.S. Department of Justice that would close a criminal investigation into the way it disclosed customer complaints about unintended acceleration.

It could end up costing the company $1 billion in fines and would end a four-year investigation. But according to the Wall Street Journal, the deal hasn’t been finalized and the dollar figure could change.

The investigation centers around whether or not Toyota provided incomplete or false information about possible defects in its products. In order to settle a class-action lawsuit about unintended acceleration, Toyota already paid out $1.1 billion.

Up to this point, Toyota continues to deny any wrongdoing in the scandal. There are still hundreds of other lawsuits filed against Toyota over the matter.

[Source: Wall Street Journal]

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