Takata to Pay $1 Bln to Settle U.S. Air Bag Probe – Sources
Reuters is reporting that Japan’s Takata Corp is expected to plead guilty to criminal wrongdoing as Friday as part of a $1 billion settlement with the U.S. Justice Department over its handling of air bag ruptures linked to 16 deaths worldwide, sources said.
writes that the settlement includes a $25 million criminal fine and $125 million in victim compensation. He added that his sources told him the settlement also will include $850 million to compensate automakers who have suffered losses from massive recalls.
“The company is poised to plead guilty to wire fraud, or providing false test data to U.S. regulators, according to the sources, who were not authorized to discuss the settlement publicly,” according to the report.