Record-breaking fines will be paid to resolve a four-year criminal investigation by the federal government against Toyota. A settlement of $1.2 billion will be paid by Toyota to settle the sudden unintended acceleration allegations – the highest amount paid by an auto manufacturer in U.S. history to settle charges of criminal offenses. The settlement comes shortly after an Oklahoma jury found Toyota liable for the electronic throttle defects causing a 2007 crash that killed one woman and left another seriously injured.
Founding shareholder and Beasley Allen attorney Jere Beasley represented both families of the victims who would later be awarded a $1.5 million verdict in October 2013. Mr. Beasley believes that the government’s announcement of Toyota’s penalty is another step in holding major companies accountable for their actions.