Toyota, 3 other automakers settle suit over Takata air bags

Toyota, 3 other automakers settle suit over Takata air bags
Toyota, 3 other automakers settle suit over Takata air bags
Author

19 May, 2017

Under the provisionary settlement, Toyota agreed to pay $278.5 million, BMW $131 million, Mazda $75.8 million and Subaru $68.3 million.

The settlements provide compensation to class members for economic losses resulting from the recall in the form of reimbursement for reasonable out-of-pocket expenses; a possible residual distribution payment of up to $500; requirements to provide rental cars to the most at-risk class members while they wait for their recall remedies; and the provision of a customer support program for repairs and adjustments on the replacement inflators, including an extended warranty.

The settlement - by Toyota, BMW, Subaru and Mazda - covers 15.8 million vehicles equipped with rupture-prone air bag inflators.

Four carmakers today agreed to pay $553m (£425.6m) to settle a U.S. class-action lawsuit over potentially defective Takata airbags inflators. Ford Motor Co. and Nissan Motor Co. have not been settled, lawyers said.

The automakers said the settlements, which are subject to approval by a Florida judge, will be overseen by a court-appointed administrator.

School bus flips in hit-and-run crash; 16 taken to hospital
Both adults and 12 of the students have since been released, a Lancaster General Hospital spokesperson said Thursday. A 6-year-old boy is considered a critical patient with serious injuries, officials said.

Singapore sovereign fund GIC pares UBS stake at a loss
Yet these are hardly rich pickings, especially for sovereign wealth funds, whose goal is enrich their countries. That equates to a current loss of 4.1 billion Swiss francs from its investment, according to IFR calculations.

SKorea: Rival N.Korea launches possible ballistic missile
North Korea launched a ballistic missile from the northwestern part of the country early Sunday, the South Korean Joints Chief of Staff said .

Takata Corp. inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide.

Part of the settlement money will be used to encourage consumers whose cars are under recall to bring them to dealers for fix. Almost 16 million cars were involved.

The settlement would also require the automakers to step up their efforts to locate owners and educate them about the need to complete the recall repairs.

In January, the company pleaded guilty to corporate criminal charges and agreed to pay a $1 billion fine. According to a press release from Plaintiffs' Committee for Takata Airbag Product Liability Litigation, the funds for the settlement are aimed at getting more cars with faulty airbags fixed. The $553m settlement does not cover personal injury claims relating to the airbags. By 2019, automakers will recall 64 million to 69 million USA inflators in 42 million vehicles, regulators said in December.


More news


  • Ronaldo could take Madrid to brink of title in Celta Vigo

    Ronaldo could take Madrid to brink of title in Celta Vigo

    The result saw Barcelona stay atop the La Liga table on head-to-head record, but Real Madrid maintain their vital game in hand. Once he was back on his feet, Nacho found Correa waiting for him and the Argentinean starting pushing the Madrid player about.
    Xiaomi bets big on Mi Homes for larger offline play

    Xiaomi bets big on Mi Homes for larger offline play

    For those wanting a bit more oomph-factor from the phone can opt for the mid-range version with a 3GB RAM and 32GB storage. It runs Android 6.0 marshmallow-based MIUI 8, but the company has started testing the latest Nougat support.
    Palestinians hold local elections in West Bank but not Gaza

    Palestinians hold local elections in West Bank but not Gaza

    Share with Us - We'd love to hear eyewitness accounts, the history behind an article, and smart, constructive criticism. In Hebron, the West Bank's largest city and a Hamas stronghold, Abbas' party managed to claim seven of 15 seats.
  • Putin offers transcript of Trump meeting with Lavrov

    Putin offers transcript of Trump meeting with Lavrov

    The person who described the Comey memo to the AP was not authorized to discuss it by name and spoke on condition of anonymity. In a statement, Israel's ambassador to the U.S., Ron Dermer , said the partnership between the U.S and Israel was solid.

    Iran President lashes out at hardline rivals in TV debate

    Some also have speculated that Qalibaf could serve as a vice president in Raisi's administration, in exchange for his support. That is not to say, however, that all of Qalibaf's supporters will automatically vote for Raisi.

    Healthy SC teen dies of heart problems after too much caffeine

    Coroner's Association. "I stand before you as a brokenhearted father and hope that something good can come from this", Cripe said. Based on Cripe's weight, Watts says the amount of caffeine consumed was above what is considered a "safe limit".
  • Tata Steel net loss narrows as domestic, European sales grow

    Tata Steel net loss narrows as domestic, European sales grow

    It is subject to formal approval by The Pensions Regulator, but Tata said it expected to get approval shortly. Standalone revenue rose 45.9% (y-o-y) to Rs 17,113 crore while profit rose 172% (y-o-y) to Rs 1,415 crore.

    US spat erupts ahead of Trump visit to region

    Following that line, Trump wants to signal to the American Jewish community his resolute commitment to Israel's security. At this stage, he will work out of the US Embassy in Tel Aviv and will live in the ambassador's residence in Herzliya.

    Warren Buffett's one-word answer for why he hasn't purchased Amazon shares

    Buffett said his federal income taxes would have gone down 17 percent a year ago if the GOP bill was in effect. Berkshire held its annual shareholders meeting this weekend in Omaha, Nebraska.
  • Senate Intelligence Committee requests Comey memos

    Senate Intelligence Committee requests Comey memos

    Jason Chaffetz, R-Utah, on Wednesday said the committee planned to invite Comey to testify during a public hearing next week. The Judiciary Committee letter to the White House mentioned the Times article, saying "the article alleged that Mr.
    EU, US to meet on airline security

    EU, US to meet on airline security

    Concerns have also been raised over the potential fire risk from storing large stocks of electronics in checked luggage. Nonetheless, airlines have said it is merely a matter of time before the ban is put in place.
    Hizbul Mujahideen won't hesitate to kill Kashmiris too: Defence expert

    Hizbul Mujahideen won't hesitate to kill Kashmiris too: Defence expert

    He said that "India to trying to create a group like ISIS to defame the militant outfits who are fighting against them". On the other hand, Defence Minister Arun Jaitley called it a dastardly act of cowardice by terrorists.