11 Jan

Takata Prepares For $1 Billion Settlement [Video]

After a massive recall involving 19 automakers and 42 million vehicles, air bag manufacturer Takata may be preparing to settle with federal prosecutors over the faulty components that killed 11 and injured 184 in the U.S.

The Wall Street Journal reports that Takata may plead guilty to criminal misconduct and pay a $1 billion settlement over the next few years. Despite the steep cost, the news source added that this may be the best way for the manufacturer to stem losses related to continuous recalls.

Even so, this doesn’t necessarily mean that the saga has come to an end. Prosecutors are reportedly still considering charging the company with wire fraud. They argue that Takata purposefully withheld information about the dangers associated with the faulty air bags.

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