Toyota To Pay $25M To End Investor Suit Over Brake Defects

Law360, New York (November 13, 2012, 7:39 PM EST) -- Toyota Motor Corp. on Tuesday agreed to pay $25.5 million to settle a proposed shareholder class action in California accusing it of artificially inflating its stock price by misleading the public about a brake defect that led to a 2010 recall.

In a settlement motion filed in California federal court, the plaintiffs, a proposed class of investors who bought Toyota shares from May 2005 to February 2010, said the settlement would resolve their claims that Toyota hid its unintended acceleration and brake problems that led to...
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