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Takata to Plead Guilty in U.S. to Wire Fraud This Month
Takata Corp. is scheduled to plead guilty on Feb. 27 to settle a U.S. Dept. of Justice investigation into the company’s efforts to hide defects in its explosion-prone airbag inflators.
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Takata Corp. is scheduled to plead guilty on Feb. 27 to settle a U.S. Dept. of Justice investigation into the company’s efforts to hide defects in its explosion-prone airbag inflators.
The plea will be filed in a federal court in Detroit. The supplier agreed last month to plead guilty to one count of wire fraud and pay $1 billion in fines and restitution.
About $850 million of the settlement will go to carmakers to help offset their cost of recalling tens of millions of faulty inflators. The devices have been blamed for 11 fatalities and more than 100 injuries in the U.S.
Under the settlement terms, Takata also will pay a $25 million criminal fine and set up a $125 million compensation program for victims.
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