Toyota gets grand jury subpoena, SEC request for documents on acceleration, Prius brakes
By APMonday, February 22, 2010
Toyota receives grand jury subpoena for documents
NEW YORK — Toyota said Monday it received a subpoena from a federal grand jury seeking documents related to unintended acceleration in its vehicles and the braking system of its Prius hybrid.
The Japanese automaker also said it received a subpoena from the Los Angeles office of the U.S. Securities and Exchange Commission requesting documents related to unintended acceleration as well as to its disclosure policies and practices.
The subpoenas are the latest demand for documentation from Toyota Motor Corp. Over the weekend, Toyota turned over documents to the House Oversight and Government Reform Committee, with some indicating it saved money by obtaining a limited recall from regulators in 2007.
Two House committees are holding hearings this week on the Japanese automaker’s recall of 8.5 million vehicles since last fall to deal with safety problems involving gas pedals, floor mats and brakes.
Toyota said it received the grand jury request from the Southern District of New York on Feb. 8. It disclosed the latest requests in a filing with the SEC on Monday and said it intends to comply with the requests.
A spokeswoman with the U.S. Attorney’s Office for the Southern District of New York declined to comment.
