The Department of Justice filed a request in a Manhattan federal court to dismiss a criminal charge against Toyota Motor Corp (TM) after the company completed three years of monitoring as part of a $1.2 billion settlement over claims of sudden, unintended acceleration in its vehicles, Reuters reported.
The request will likely bring an end to Toyota's penance after admitting it had minimized problems and misled regulators regarding claims Toyota vehicles accelerated suddenly in 2009 and 2010. The three years of independent oversight Toyota agreed to as part of its then record fine ended Monday.
The scandal was linked to at least five deaths in the U.S. The Justice Department didn't bring any criminal charges against Toyota executives despite U.S. District Judge William Pauley's conclusion that "corporate fraud can kill."
Toyota stock traded slightly up 0.19% to $114.35 per share midday Tuesday.
More of What's Trending on TheStreet:
- Google Fires Diversity Memo Author -- Here's What Top Experts Are Saying
- Dying Sears Is About to Reward Long-Suffering Shareholders With This Major Surprise
- Amazon With Inflated Discount Rates? We Found 9 Products You'll Want to Check Out.
- Tesla Is Seeing Such a Hearty Amount of Model 3 Orders Daily This Analyst Is Even More Bullish