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Takata Airbag Lawsuit Settles For $553.6 Million

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Takata Airbag Lawsuit | Goldwater Law Firm

Since 2015, multiple Takata airbag lawsuits have been filed. Plaintiffs allege that Takata and certain car manufacturers who used their airbags knew or should have known about the defective airbags. Many of the plaintiffs involved in the Takata airbag lawsuits allege that at least four automakers knew that the airbags were defective. Those automakers were named as Ford, Honda, Nissan, and Toyota. The defective Takata airbags caused a recall of more than 42 million vehicles to fix 70 million airbags.

What Caused the Takata Airbag Lawsuits?

Takata and multiple auto manufacturers were sued by multiple plaintiffs for faulty airbags. Many of the airbags exploded due to faulty inflators. Plaintiffs allege that Takata and the auto manufacturers knew about the issue and continued to use the faulty airbags. Because of the faulty airbags, 11 people died in the United States. Takata airbags are found in multiple types of cars including BMW, Subaru, Toyota, Ford, and Mazda.

Takata Pleads Guilty and Is Fined $1 Billion

Takata entered a guilty plea to wire fraud, admitting that they provided false data. As a result of the guilty plea, federal prosecutors fined the Tokyo company $1 billion. Takata’s CEO, Yoichiro Nomura, stated that the actions of the company were “completely unacceptable.”

Despite the fine and the guilty plea, many plaintiffs in Takata airbag lawsuits are not happy. They believe that multiple auto manufacturers should also be held financially responsible for the use of the faulty products.

Takata Airbag Lawsuit Settlement

Since the guilty plea, the Takata airbag lawsuit (which was being handled as an MDL) was settled for $553.6 million. Since more than 15 million vehicles still have the faulty Takata airbags, the settlement money will help identify and replace those airbags. BMW will provide around $131 million. Mazda North America will pay around $75 million. Subaru of America, Inc., will pay around $68 million. Toyota will pay around $278.5 million.

Additionally, the $553.6 million will go toward reimbursing car owners for their expenses related to the need to rent a vehicle while their vehicles were being fixed. The rental reimbursement will be up to $500. The money will also go to pay for customer service support, repairs, and an extended warranty on the replaced parts.

The settlement money will also support an outreach program to identify and contact vehicle owners who are affected by the recall. They will reach out to class members via social media, mail, phone calls, and use online ads in an effort to inform them of their rights related to this settlement.

Takata Airbag Lawsuit Help

If you believe that your vehicle has a faulty Takata airbag or if you were injured by one, contact Goldwater Law Firm. Goldwater Law Firm can answer your questions related to Takata airbag lawsuits and the settlement so that you can make an educated decision. To learn more, schedule your free Takata airbag lawsuit case evaluation. Goldwater Law Firm has a long history of helping injured people protect their legal rights and get the compensation that they deserve.