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Toyota to settle acceleration case for more than $1b

DETROIT — Toyota Motor Corp. agreed Wednesday to pay more than $1 billion to settle a class-action lawsuit related to issues of unintended acceleration in its vehicles.

The proposed settlement, filed in US District Court in California, would be one of the largest of its type in automotive history. If the agreement is approved by Judge James V. Selna, Toyota would make cash payments for the loss of value on vehicles affected by multiple recalls and install special safety features on up to 3.2 million cars.

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