Toyota to pay at least $1.2 billion to settle sudden-acceleration lawsuit

Toyota Motor Corp. has agreed to pay between $1.2 billion and $1.4 billion to settle a class-action lawsuit filed in 2010 over allegations of unintended acceleration in some of its vehicles.

The settlement would require Toyota to install a brake-override system in an estimated 3.25 million vehicles and pay car owners compensation for the alleged reduced value of the vehicles.

According to attorney’s for the plaintiffs, the estimated value of the settlement makes it the largest of its kind.