Dana Settles Over Toyota Truck Frames For $25M

Law360, New York (January 12, 2011, 2:04 PM EST) -- Dana Holding Corp. said Wednesday it would pay a Toyota Motor Corp. unit $25 million to settle warranty claims on corroded frames Dana made for Toyota's Tacoma pickup truck.

The one-time payment to Toyota Motor Engineering & Manufacturing North America Inc., which operates 13 parts and vehicle manufacturing factories in North America, covers frames Dana made at its former structural products business, according to a filing with the U.S. Securities and Exchange Commission.

Dana will take a $25 million charge to its fourth-quarter earnings for the...
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