Toyota nearing $1B settlement of unintended acceleration criminal probe

Toyota nearing $1B settlement of unintended acceleration criminal probe

February 9, 2014 by · Leave a Comment 

Filed under: Government/Legal , Safety , Toyota , Earnings/Financials According to those all-too-nebulous “people familiar with the matter,” Toyota is close to a settlement with the US federal government to end a criminal probe over its long-running unintended acceleration fiasco. Though Toyota has never admitted guilt, the deal could reportedly crest a billion dollars and would likely include a criminal deferred prosecution agreement, and while we’re not legal experts, The Wall Street Journal explains that such a deal would “[force Toyota] to accept responsibility while avoiding the potentially crippling consequences of federal criminal convictions.” The report from WSJ also suggests that Toyota is facing charges that it “made false or incomplete disclosures” to various government agencies regarding possible defects to its cars. Such charges may include mail and wire fraud violations. Toyota has already paid out fines totaling $66.2 million to the National Highway Traffic Safety Administration because it failed to report safety defects in a timely manner. This deal with the federal government is not related to the billion-dollar class-action settlement reached with Toyota owners over falling vehicle values, and it’s also different from the roughly 400 lawsuits still in courts alleging personal injury of wrongful death due to cases of unintended acceleration. In other words, don’t expect to hear the end of such courtroom verdicts and settlements anytime soon… Toyota nearing $1B settlement of unintended acceleration criminal probe originally appeared on Autoblog on Sun, 09 Feb 2014 11:02:00 EST. Please see our terms for use of feeds . Permalink

It’s All About the Residuals: 8 Toyota Models Win 2014 ALG Residual Value Awards

November 29, 2013 by · Leave a Comment 

LOS ANGELES (Nov. 18, 2013)

Scion Takes on the Runway Supporting Project Ethos Event

October 8, 2013 by · Leave a Comment 

TORRANCE, Calif., (Oct. 8, 2013) – Local and international fashion, music and art will be on center stage when Scion sponsors the Project Ethos event during Los Angeles Fashion Week on Oct. 15. The event will run 8 p.m. to 2 a.m. at the Avalon Hollywood and include runway shows, an art gallery and a live performance from L.A.-based music group YACHT .

‘Jimmy Kimmel Live’ Shuts Down Hollywood Boulevard on Monday September 23 and Tuesday September 24 for an Epic Two Night Concert Event Featuring Music…

September 23, 2013 by · Leave a Comment 

Torrance, Calif. (Sept. 17, 2013) – On Monday, September 23, “Jimmy Kimmel Live” will kick off the broadcast season by taking over Hollywood Boulevard for two consecutive nights. On Monday, September 23, Paul McCartney will make his first appearance on “JKL.”

2013 Scion FR-S Reveal – Jack Hollis

December 4, 2011 by · Leave a Comment 

Scion Vice President Jack Hollis reveals the 2013 FR-S at Milk Studios in Hollywood, Calif., Nov. 30, 2011.

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