Takata and its ongoing airbag saga
Takata Corp. is reportedly nearing a settlement of up to $1 billion in a criminal probe by the U.S. Department of Justice over its ongoing massive recall with regards to exploding airbags. The recall has affected a multitude of automakers and been linked to at least 184 injuries. (TAKATA)
The U.S. Department of Justice is reportedly nearing a settlement with Takata Corp. regarding allegations of criminal wrongdoing as related to the industry-wide airbag recall that has vexed the automotive world for the last three-plus years. The Japanese-based parts supplier is expected to pay up to $1 billion in a report released by the Wall Street Journal. There also is a possibility that Takata may plead guilty to criminal misconduct, but further details of the settlement will not be disclosed until a later date.