US announces $1.2B Toyota settlement
Wed, 19 Mar 2014 14:44:42 GMT —
A person close to a four-year criminal investigation of Toyota Motor Corp. says the U.S. Justice Department will announce Wednesday a $1.2 billion settlement with the Japanese automaker over its disclosure of safety problems.
Attorney General Eric Holder, Transportation Secretary Anthony Foxx and U.S. Attorney for the Southern District of New York Preet Bharara are expected to announce the settlement Wednesday morning.
The official spoke of condition of anonymity because the official was not authorized to discuss the settlement on the record before its official announcement.
Toyota declined comment Wednesday on a Wall Street Journal report of the settlement.
The four-year criminal investigation focused on whether Toyota was forthright in reporting problems related to unintended acceleration troubles.