Four car makers settle claims over Takata inflators for $553 mln

According to a news release, plaintiffs in the Takata Airbag Product Liability Litigation filed class action settlement agreements resolving claims against Toyota, Subaru, Mazda and BMW that will accelerate the removal of unsafe airbag inflators from 15.8 million affected vehicles while also compensating consumers for their economic losses.

Four carmakers today agreed to pay $553m (£425.6m) to settle a United States class-action lawsuit over potentially defective Takata airbags inflators.

There are four sections of the proposal, which must be approved by the U.S. District Court for the Southern District of Florida. Roughly 100 million inflators have been recalled worldwide by 19 major automakers, the largest automotive recall ever for a single safety issue. By 2019, auto makers would have recalled 64-million to 69-million U.S. inflators in 42-million vehicles, regulators said in December.

Millions of auto owners whose vehicles were outfitted with faulty Takata airbags may soon receive up to $500.00 under terms of a new consumer settlement.

More than nine million Toyota vehicles, 2.6 million Subaru vehicles, 2.3 million BMW vehicles and 1.7 million Mazda vehicles, are covered by the settlement, according to the plaintiffs.

The settlement includes a new independent outreach programme to dramatically increase recall remedy completion rates and regularly contact owners.

More news: Trump Lurches From Crisis To Crisis, Dollar Gains Evaporate

"Many consumers are unaware of the dangers their vehicles pose", Peter Prieto, a partner at the law firm Podhurst Orseck who served as the lead counsel in the class-action case, said in a conference call with reporters. The automakers have jointly agreed to provide a total of approximately $553 million for these activities.

Automakers have recalled 46 million Takata air bag inflators in 29 million US vehicles.

Auto makers will also reimburse some expenses such as for transportation, storing or towing charges, child-care bills and lost wages during vehicle repairs.

Toyota's portion of the settlement is the highest, at $278.5 million. He added, "We appreciate the efforts of Toyota, BMW, Mazda and Subaru to do right by their customers in reaching these agreements".

In January, the company pleaded guilty to corporate criminal charges and agreed to pay a $1 billion fine.

The solution for a mass recall on defective Takata airbags is under way, though it seems to be far from over.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

3rd for Ricciardo in Spain as Verstappen suffers early exit
But Raikkonen was also of the view that Bottas had triggered the chain reaction. We could not believe it when they came to get us and took us to Ferrari.

Nicki Minaj To Launch Official Charity For Student Loans And Tuition Payments
I had to get off the phone cause he was about to make me cry too. "You'll be able to officially sign up! I'll give you a 4.0". She later announced on Twitter that she would continue to pay the tuitions of other fans, as long as they got straight A's.

Sore ankle keeps Raptors G Lowry out of starting lineup
The 3-point line has been the difference as the Cleveland are outscoring the Toronto by a total of 51 points. The Cleveland Cavaliers went from trailing 77-72 to taking an 81-77 lead. "And we're a different team".

Manchester United boss Jose Mourinho more focused on silverware than top four
Though they will miss out on the top four, Jose Mourinho's side will want to put an end to their four-game winless league run. One of his standout performances this term came against Premier League champions, Chelsea in January.

Sudan's president invited by Saudi Arabia to Trump meeting
The invitation was delivered during a meeting between Sisi and Saudi Civic Service Minister Essam Ben Said in Cairo. President Donald Trump and leaders from across the Muslim world, Saudi officials close to the king said Tuesday.

McIlroy to undergo test on troublesome back
The 28-year-old four-time major victor is suffering from a back injury, but made a strong start to the day at Sawgrass. But I'm here talking to you on a Saturday, so that's a positive.

First Match Set For WWE Extreme Rules
The victor will presumably challenge Brock Lesnar for the Universal Championship at Great Balls of Fire in July. Will Joe get the upper hand again? The intercontinental champion will defend his title against The Miz.

Sharapova targeting return to the top
I don't know how the Wimbledon qualifying works or the rankings. "I can't wait to be part of the first ever Laver Cup. Since her return in April, Sharapova has received wildcard entries to the Stuttgart, Madrid and Italian Opens.

Samsung Galaxy S8 Active Nears Launch As Smartphone Gets Wi-Fi Certification
The Samsung Galaxy S8 shines in the video recording segment where it comes out at the top with a sub-score of 88 points. Apart from South Korea, the phone is slated to be released in more markets soon after being released in the country.

Tehran mayor to quit Iran's presidential race, backs Raeisi
The same day that Mr Trump heads overseas , Iran is holding its first presidential election since the completion of the nuclear agreement.

UN forces retake strategic areas of C. African Republic city
Early Saturday, another Moroccan soldier died in a similar attack on the base and a nearby Muslim-dominated area. "However credible sources have confirmed an undetermined number of civilian casualties", the statement said.

Watch the HTC U11 event livestream at 2am Eastern
However, HTC is celebrating their 20th anniversary on May 16th, so they scheduled the launch date on that day. On top of all of that, you can also set up the squeeze force level based on your preferences.

3D printed ovaries produce healthy offspring giving hope to infertile women
Instead, human trials might begin with a structure that substitutes for just the hormone production function of an ovary. Technically, how does biological 3-D printing work? Kids can lay the logs at right points to shape structures.

US trumpets Mosul gains, but Iraq says more aid needed
Flies swarmed over the charred remains of an Islamic State militant lying near a motorbike on a street in the district. The Iraqi government said last week the number of people fleeing Mosul had more than doubled to about 10,000 a day.

Trump Disclosed Intelligence Secrets to Russians
Asked what repercussions the Russians should face for interfering in the USA election, Tillerson did not offer any specifics. Mr McMaster clarified his comments on Tuesday, saying: "What I'm saying is really the premise of that article is false".


More News

News
More News