Takata Corp. is going to pay $1 billion and plead guilty to fraud as part of a settlement with the U.S. Justice Department, according to reports.
The deal completes the government’s criminal investigation into the Japanese auto supplier’s faulty airbags, which under certain conditions will explode spraying shrapnel into the cabin of the vehicle.
More than 15 people globally – 11 in the U.S. – have died as a result of the airbags and hundreds have been injured. It is the largest automotive recall in history. (more…)