Toyota to Pay Record $1.2 Billion Recall Fine

Toyota is hoping to finally smooth out the speed bump it hit on its way to becoming one of the world's largest auto companies. A settlement with the U.S. Justice Department ends a criminal probe over the way Toyota handled its biggest recall ever. The Japanese automaker will fork over $1.2 billion for misleading and concealing information tied to American recalls dating back to 2009—when vehicles sped up without prompting from drivers.

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