Toyota is poised to pay more than $1 billion to settle a criminal investigation into disclosures around the sudden acceleration of its vehicles, a steep fine that caps a multiyear inquiry and provides a template for the authorities pursuing a similar case against General Motors.
While the government’s deal with Toyota is not yet final, it could be announced as soon as Wednesday, according to a person briefed on the matter. The Justice Department has scheduled a news conference for 9:30 a.m. Wednesday.
