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Toyota Reaches $1 Billion Settlement Over Acceleration Issues

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March 19, 2014 AT 6:11 AM
The Department of Justice announced a settlement totaling more than $1 billion with Toyota on Wednesday surrounding the company's response to consumer complaints stemming from 2009 and 2010 incidents involving sudden acceleration issues in several models. In announcing what he called the largest penalty levied against a car company in U.S. history, totaling $1.2 billion, Attorney General Eric Holder said “Toyota confronted a public safety emergency as if it were simply a public relations problem,” The deal announced on Wednesday deferred criminal prosecution of Toyota for three years if the company fully complies with all aspects of the agreement.