Saturday, 14 January 2017

Takata pleads guilty, to pay $1 bn for hiding air bag defect

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Takata Corp. has agreed to plead guilty to a single criminal charge and will pay USD 1 billion in fines and restitution for concealing a deadly defect in its air bag inflators. The US Attorney's Office in Detroit announced the plea deal today. Takata will pay a USD 25 million criminal fine, USD 125 million to individuals who were injured by the air bags and USD 850 million to automakers that purchased the inflators. The US district court in Detroit has appointed attorney Kenneth Feinberg to distribute restitution payments.

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