DETROIT (AP) – Takata Corp. has agreed to plead guilty to a single criminal charge and will pay $1 billion in fines and restitution for concealing a deadly defect in its air bag inflators.
The U.S. Attorney’s Office in Detroit announced the plea deal on Friday.READ MORE: Majority Of Penguins Players, Coaches Receive COVID-19 Vaccines At PPG Paints Arena Clinic
Takata will pay a $25 million criminal fine, $125 million to individuals who were injured by the air bags and $850 million to automakers that purchased the inflators. The U.S. district court in Detroit has appointed attorney Kenneth Feinberg to distribute restitution payments.
Payments to individuals must be made soon. Money due to automakers must be paid within five days of Takata’s anticipated sale or merger.READ MORE: Rep. Conor Lamb, Rep. Brian Fitzpatrick Tour Southern U.S. Border As Part Of Congressional Delegation
Takata is expected to be sold to another auto supplier or investor sometime this year.Pittsburgh Weather: Foggy Start, Warmer Afternoon Temperatures
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