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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Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
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