Reuters: Regulatory News: Toyota finalizes multi-state settlement over safety crisis

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Toyota finalizes multi-state settlement over safety crisis Feb 14th 2013, 18:48 Tweet Share this Email Print Related Topics Stocks » Regulatory News » Markets » Cyclical Consumer Goods » Thu Feb 14, 2013 1:48pm EST DETROIT, Feb 14 (Reuters) - Toyota Motor Corp will pay $29 million as part of a multi-state settlement agreement finalized on Thursday over the Japanese automaker's failure to quickly notify drivers of defects that wound up triggering the biggest safety crisis in history. The payment, to be doled out to attorney generals of 29 states and one U.S. territory, is part of the $1.1 billion Toyota agreed to pay in December to compensate consumers who lost value on their cars due to sudden, unintended acceleration. As part of Thursday's deal, Toyota will also maintain its rapid-response centers and quality field offices in the United States to recoup Toyota drivers affected by its recalls for the cost of rental cars and public transportation. The move is another step by Toyota to move past its safety crisis, which began in 2009 and forced the company to recall about 16 million Toyota, Lexus and Scion vehicles sold in the United States. Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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