Toyota Agrees to Record Fine, Another Recall

Toyota has agreed to pay a record $16.4 million dollar fine for failing to report acceleration problems caused by pedals sticking on its vehicles.

Regulators say Toyota knew about sticky pedals causing unintended acceleration in September 2009, but did not inform federal safety authorities until January 2010, instead of within five days as required by federal law.  

The automaker said in a prepared statement that it would pay to resolve the case, but did not admit liability. ”We believe we made a good faith effort to investigate this condition and develop an appropriate counter-measure.”

Dozens of personal injury and wrongful deaths claims have been filed against the company over sudden acceleration, and at least 180 consumer and shareholder lawsuits are seeking class-action status, BusinessWeek reports.

Before today, the largest penalty paid by an automaker to NHTSA was $1 million by General Motors for delaying a  windshield-wiper recall in 2004, The L.A. Times reports.

Toyota today also announced a recall of its Lexus GX 460 sport utility vehicle, days after temporarily halting sales of the model when  Consumer Reports called it a safety risk.

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