Takata fallout: US lawsuit argues OEMs are far from ‘victims’

Takata may be wrapping up major legal hurdles with its faulty airbag inflators but the OEMs involved could be in for some tough times yet.

The supplier marked an important milestone recently with court approval of its previously announced US$1bn settlement agreement with the Department of Justice. The deal entails a guilty plea to wire fraud and a US$25m criminal fine alongside the establishment of a US$125m restitution fund for the drivers and passengers affected by the fault and a US$850m restitution fund for the vehicle manufacturers that installed the faulty parts. Approval by US District Court Judge George Steeh means the company can now move forward with plans for a sale or takeover.