Toyota Nears $1B Settlement to Federal Acceleration Probe

The deal could finally close a four-year criminal inquiry into the automaker’s actions surrounding the investigation of sudden-acceleration claims.

by Staff

February 10, 2014

Toyota Nears $1B Settlement to Federal Acceleration Probe — Photo courtesy of Toyota.

1 min to read

Toyota Motor Co. is close to negotiating a settlement with the U.S. Justice Department over allegations that four years ago the automaker misled federal investigators during their probe of sudden-acceleration claims, the Detroit News reported on Friday.

Sources told the newspaper the settlement could cost Toyota as much as $1 billion, although a final deal is likely a few weeks away. Because some issues remain unresolved, the possibility of the deal unraveling still exists as well.

The U.S. Attorney's Office in New York is leading negotiations for the Justice Department. Toyota is not expected to plead guilty to any criminal charges as part of the settlement, the newspaper reported.

Read the Detroit News article here.

Topics:Toyota Department of Justice Unintended Acceleration Safety

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