Mexican Media Brands
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.
#legal
Share
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.
RELATED CONTENT
-
Four Auto Companies Rank Among the World's Most Ethical
GM and Cooper Standard make the list for the first time, joining long-running honorees Aptiv and Cummins
-
Court Ruling Exposes GM to Punitive Damages Over Ignition Switches
A new ruling by the federal judge who presided over General Motors Corp.’s 2009 bankruptcy could expose post-bankruptcy General Motors Co. to a wave of costly punitive damage awards linked to the company’s defective ignition switches.
-
Uber Settles with Family of Woman Killed in Self-Driving Car Crash
Uber Technologies Inc. has quickly settled on damages to the survivors of a woman killed in Tempe, Ariz., last week by an Uber test vehicle operating in autonomous mode.