Toyota to Settle Probe for $1.2B

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March 19 (Bloomberg) -- Bloomberg’s Adam Johnson reports on Toyota’s $1.2 billion probe settlement on Bloomberg Television’s “Lunch Money.” (Source: Bloomberg)

Earnings and settlements.

Toda's for year-long caves associated with 10 million recalls reilly and in with a settlement of $1.2 billion.

Yang yang has the details.

One of the largest penalties ever proposed on automaker.

The investigation led examined whether toyota intentionally misled regulators by making false or incomplete disclosures about sudden and unintended acceleration in its cars.

The incident led to the recall of more than 10 million cars and hearings on capitol hill, the finger-pointing ends today, landing on toyota.

Eric holder said in a press conference that toyota was more concerned about its public image than its customers.

The president promptly disclosing and correcting safety issues about which they were aware.

Toyota made misleading public statements to consumers and gave in accurate fax to members of congress.

They concealed from federal leg that regulators the extent of problems some consumers sticking gas pedals or unsecured incompatible formats that caused the deceleration episodes.

When they get behind the wheel, they have the right to expect their vehicle is safe.

If part of the automobile turns out to have safety issues, the car company has a duty upfront to tell customers about them, to fix them quickly, and immediately tell the truth about the problem as well as the scope of that problem.

Toyota violated this basic

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