Settlement For Takata Airbag Issues Over 600 Million Dollars
Michigan Attorney General Bill Schuette announced a multistate settlement with TK Holdings, Inc., the U.S. subsidiary of Takata, over allegations that the company had concealed safety issues with their airbag systems, installed in a wide variety of vehicles impacting drivers and passengers across the country. The company filed for chapter 11 bankruptcy in June of 2017, and its reorganization plan has been confirmed by the United States Bankruptcy Court for the District of Delaware. The settlement reached between the attorneys general of 44 states and the District of Columbia, along with TK Holdings, Inc., concludes the multistate investigation into the
