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Toyota Settles $1.1B for Acceleration Lawsuits

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  • Description

    FBN’s Nicole Petallides with a morning market update after the opening bell.

  • Duration 1:26
  • Date

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A -- all right the market is now open this well -- always -- up slightly thirteen 1100.

For the Dow Industrials.

Just at a time when we know we're gonna run out of money on Monday.

And we know that we're approaching that fiscal cliff -- no deal inside and -- the Dow is still a thirteen 1100.

And a -- and have.

That's what to Nicole let's start with Toyota I would they're gonna pay about one point one billion dollar fine settle the claims.

Unintended acceleration -- so where's the stop look at.

That's right when you take out an uncertainty.

It's good news for a company and that's exactly what's happening here -- the stock is up one point 7%.

Nearly 92 -- at 91.

87 this is a class action lawsuit.

Toyota admits no -- They are settling in and spending one point one billion dollars in order to settle this this is to cover economic losses it does not cover.

Wrongful death or injuries but it certainly takes away one level -- yeah and that.

But you know -- we should also point out that the Japanese currency the yen has come straight down.

That means Toyota cause will be a little -- -- more price competitive in America maybe that's helping to.

That's right a weaker yen and another thing noted is that they have given a good outlook for sales -- -- but altogether not fat.

Now back 91 dollars a -- against itself as we'll take that the -- thank you been much indeed Toyota.

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