Takata Bankruptcy A Question Mark For Consumer Lawsuits

The bankruptcy of Japanese auto parts giant Takata may frustrate the legal challenges by victims harmed by the company’s exploding airbags, which were part of the largest auto safety recall ever. The United States has been by far the hardest hit by the scandal over the defective airbags, which in some cases exploded with deadly … Read more

Airbag Maker Takata Shares Plunge Nearly 20% On Bankruptcy Report

Takata shares dropped nearly 20 percent on Thursday after a media report said the embattled Japanese airbag maker was considering filing for bankruptcy protection and then rolling its key businesses into a new company. The stock price fell 19.53 percent to 412 yen ($3.70) — the daily limit loss of 100 yen — after the … Read more

Lawsuit In US Says Automakers Knew of Takata Flaws

Leading auto manufacturers, including BMW and Nissan, equipped their cars with Takata airbags despite knowing they were dangerous, according to legal filings reviewed Tuesday by AFP. The claims, laid out in a civil case against Takata and leading automakers, broadens responsibility for the scandal to auto manufacturers, who have largely been seen as victims in … Read more

Takata Fined $1bn In US Over Exploding Airbag Scandal

Japanese car parts maker Takata has agreed to pay $1bn (£820m) in penalties in the US for concealing dangerous defects in its exploding airbags. The firm also pleaded guilty to a single criminal charge, the company and the US Justice Department said. Takata will pay a $25m fine, $125m to people injured by the airbags … Read more