Thursday, February 14, 2013

Reuters: Regulatory News: UPDATE 1-Toyota finalizes multi-state settlement over safety crisis

Reuters: Regulatory News
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UPDATE 1-Toyota finalizes multi-state settlement over safety crisis
Feb 14th 2013, 20:24

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Thu Feb 14, 2013 3:24pm 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  automotive safety crisis in history.      The payment, to be doled out to attorney generals of 29  states and one U.S. territory, is related to 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 continue its  rapid-response centers and quality field offices in the United  States to reimburse 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 from 1998 to 2010.  

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