Takata to Pay $1 Billion in Airbag Scandal
Dec. 29, 2016—The Takata Corporation is expected to pay up to $1 billion and plead guilty to criminal misconduct, the Wall Street Journal reports.
The National Highway Highway Traffic Safety Administration recalled 42 million vehicles in the U.S. after discovering Takata's faulty airbag systems could deteriorate over time and risk causing an explosion of hot metal shrapnel upon inflation. The Takata systems were responsible for 11 deaths and over 100 injuries worldwide.
The US Justice Department may also charge the company with wire fraud, claiming Takata faked test information and intentionally hid information about the airbags.