Toyota to pay $1.1 billion to settle suit
In 2009, the National Highway Traffic Safety Administration declared that Toyota’s design could cause acceleration pedals to get caught in the floor mats.  That triggered its largest recall ever and has now led to the largest auto industry settlement of a suit filed in 2010 – if approved.  Toyota offered to pay about $1.1 billion to install new safety equipment.  The proposed settlement, filed in a Federal District Court in California, “would make cash payments for the loss of value on vehicles affected by multiple recalls and install special safety features on up to 3.2 million cars.”

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