'Sticky' gas pedal settlement will cost Toyota $1.1B

Dec 27, 2012 | 01:23 PM | Corinna Petry

Tags  Toyota USA, class-actionl lawsuits, accelerator problem, settlement offer, Christopher Reynolds, Corinna Petry

CHICAGO — Toyota Motor Corp. has agreed to settle class-action lawsuits alleging that certain models had a "sticky" gas pedal that resulted in unintentional acceleration.

"This was a difficult decision, especially because reliable scientific evidence and multiple independent evaluations have confirmed the safety of Toyota’s electronic throttle control systems," said Christopher P. Reynolds, group vice president and general counsel at Toyota Motor Sales USA. "However, turning the page....

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