The embattled company Takata is facing fire from all sides, but soon the company may reach a settlement with the federal government. This doesn’t absolve them from civil penalties from customers, but it may get the feds off their back.
The recall is the largest one in automotive history, and the fines paid by Takata will match. Takata may pay fines of up to a billion dollars to the government for their actions, which include hiding study information from regulators and manipulating test results to sell more airbags to their clients.
A major coup would be for the company to plead guilty to the charges, but this isn’t a common result. Other major manufacturers have managed to make deals that would defer guilty pleas in exchange for huge fines paid in a certain amount of time. If Takata does plead guilty, that opens the floodgates for many more claims and true justice for the millions of people at risk and the few who have died from faulty igniters in the bags.
A final decision is expected to come down within a few weeks. For more information on the potential settlement, read the full story at the LA Times.
Is your car part of the Takata recall? Replace your bag as soon as you can. But if you are injured by a Takata airbag, you can join the class action lawsuit against them. Contact John Foy & Associates for a free consultation about the matter.