Toyota Said to Reach $1.2 Billion Settlement of Probe

Toyota Motor Corp. has reached a $1.2 billion settlement to end a U.S. criminal probe of sudden unintended acceleration that led to the recall of more than 10 million vehicles, two people familiar with the matter said.

The settlement, which isn’t final, may be announced as early as today, said the people, who asked not to be named because the accord isn’t public. The probe examined whether Toyota made false or incomplete disclosures to regulators about defects in its cars, and how it handled drivers’ complaints, said a third person, who also asked not to be identified.