For a value of $10 million, the Toyota Motor Corp. has been successful in resolving seemingly one of the most serious legal challenges in the history of the company.
However, the money, below 1% of the titan's previous quarterly gain, could still set the tone for the series of lawsuits Toyota continues to face when the problems with sudden acceleration in its vehicles drew the attention of the entire world.
The automaker had decided to heed in to the payment of the amount, the value of which was revealed on Wednesday, to dispose of the lawsuit brought in by the relatives of 4 persons, one of whom was a California Highway Patrol officer Mark Saylor, who lost his life in a fiery crash close to San Diego in the month of August in 2009.
The accident had been recorded on a chilling 911 phone call, which led to the series of massive recalls, congressional investigations and federal fines. All this, according to experts, has led the largest automaker in the world to incur expenses of over $10 million.
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