Four car companies settle Takata suit for $553 Million
The legal battle over the deadly flaws in Takata airbags has moved one step closer to resolution on Thursday, as several automakers reached a proposed settlement that would compensate owners of almost 16 million vehicles for money they lost due to the massive recall of Takata air bags.
Certain Toyota, Mazda, Subaru and BMW vehicles equipped with Takata air bags that could explode in a crash are included in the $553 million deal aimed at covering economic losses.
Owners are eligible for financial assistance in getting their vehicles fixed and up to $500 in compensation under the terms of a new consumer settlement with several automakers.
The money is meant to reimburse them for car rentals or other expenses — like lost wages, towing charges or child care — incurred while waiting for their cars to be repaired.
Those injured because of the exploding air bags are already eligible for compensation under a separate fund.
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. As of April 28, only 32% of Toyota owners, 31% of Subaru owners, 18% of Mazda owners and 16% of BMW owners affected by the recall had completed the repairs, according to the National Highway Traffic Safety Administration.
The Takata air bag inflators sold to several automakers have been found to have a serious defect that has claimed the lives of many. The defect was found in the inflators that were made with a propellant that can degrade over time. This causes the inflator to rupture when the air bag deploys, launching pieces of scrap metal at the driver or passengers in the vehicle. This fast launch of debris has caused serious injuries and deaths.
Takata Airbag Lawsuits
If you or a loved one were injured or killed by these defective air bags, you could be in a position to take legal action. The Carlson Law Firm is prepared with award-winning lawyers that are passionate about personal injury and helping victims. Contact The Carlson Law Firm for a free consultation to see if you have a case.