Toyota to announce $1.2B settlement to end investigation over sudden acceleration
The U.S. has reached a $1.2 billion settlement with Toyota Motor Corp., concluding a four-year criminal investigation into the Japanese automaker’s disclosure of safety problems, according to a person close to the investigation.
Attorney General Eric Holder, Transportation Secretary Anthony Foxx and U.S. Attorney for the Southern District of New York Preet Bharara were expected to announce the settlement Wednesday morning, said the official, who spoke of condition of anonymity because the official was not authorized to discuss the settlement on the record before its announcement.
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