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Distressed Japanese Airbag-Maker to Pay Fraction of $650M Settlement

Takata Corp., a Japanese air bag manufacturer, reached a $650 million settlement with 44 states and Washington D.C.. However, due to its severe financial issues, the firm will only pay a small portion of that sum. So reports The Los Angeles Times.

The states decided to forgo collecting any money so victims would have a larger share of the settlement. South Carolina will receive more than $139,000 to cover costs of the investigation.

Takata brass allegedly concealed faulty inflators, which killed more than 20 people and injured an additional 180. As part of a criminal plea deal, Takata will pay victims $125 million and $850 million in restitution to automakers.

 Read the full story from The Los Angeles Times

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