Toyota Fined Record $17.4M For Delay In Reporting Defect

Law360, New York (December 18, 2012, 3:02 PM EST) -- Toyota Motor Corp. agreed Tuesday to pay a record $17.35 million fine to the U.S. National Highway Traffic Safety Administration to settle claims it withheld reports of a defect, the fourth time the automaker has been slapped with a maximum fine for the offense since 2010.

Toyota took too long to tell the agency about reports it received of gas pedals becoming stuck under floor mats in 2010 Lexus RX 350s, a defect that can lead to unintended acceleration, NHTSA said. The automaker recalled more than...
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