Beshear Reaches Settlement with Defective Airbag Maker Takata

Settlement related to defective Takata airbag system reached

Deployed Takata air bag.

Today, Attorney General Andy Beshear announced a settlement with TK Holdings, Inc., the USA subsidiary of Takata, over allegations that the company concealed safety issues related to defective airbags.

That's because they have agreed not to collect the settlement so victims of Takata's faulty air bags get larger settlements.

At least 20 people died worldwide and hundreds more were injured as a result of the airbags, according to Takata.

"This settlement is created to protect consumers by putting in place terms to ensure the company will do what it is supposed to do going forward", Grewal said. South Carolina, which led the states, will get about $139,000 to cover investigation costs.

Comply with state and federal law as well as the NHTSA Consent Order and Coordinated Remedy Order.

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Earlier this month, a group of about 40 private plaintiffs reached a settlement with the company, which filed for bankruptcy in June, that could provide up to $130 million in compensation to victims of exploding air bags.

The settlement follows the recall of almost 70 million Takata air bags, which is the largest automotive safety recall in US history. As the compound is exposed to heat and humidity over time-particularly in warmer and wetter regions-the propellant degrades.

TK Holdings, Inc.'s parent company also pleaded guilty to manipulating testing data and submitting false and misleading reports to auto manufacturers.

The company's air bag inflators can inflate with too much force and spray metal fragments.

Most major carmakers have been affected by the fault, with about 100 million Takata airbags recalled globally since the issue first emerged in 2007.

In addition to Virginia, the settling states are: Alabama, Alaska, Arizona, Arkansas, California, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, and Wisconsin.

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