$1 Billion Deal Major Step in Toyota Legal Trouble

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Toyota Motor Corporation President and CEO Akio Toyoda, center, and Toyota Motor North America CEO Yoshiumi Inaba, right, are sworn in before the House Oversight and Government Reform Committee hearing in February 2010 on the recall of millions of Toyota vehicles due to reports of malfunctioning gas pedals.

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The company has been dogged by fines for not reporting problems in a timely manner.

Earlier this month, NHTSA doled out a record $17.4 million fine to Toyota for failing to quickly report floor mat problems with some of its Lexus models. Toyota paid a total of $48.8 million in fines for three violations in 2010.

Toyota President Akio Toyoda appeared before Congress last year and pledged to strengthen quality control. Recent sales figures show the company appears to have rebounded following its safety issues.

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Online:

Settlement website: http://www.ToyotaELsettlement.com

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