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Auto defect: Massive settlement reached with air bag makers

Hundreds of people have been injured, and 22 have lost their lives because of a company's negligence in the manufacturing of faulty airbags. Reports show that millions of vehicles worldwide were equipped with airbags that can spray deadly shrapnel in the event the airbag deploys. In Texas and around the world, millions of people have yet to respond to the auto defect according to the National Highway Traffic Safety Administration

The agreement reached with TK Holdings, an American subsidiary of Takata, requires the firm to pay out $650 million. Nearly 34 million affected vehicles on the road today are being recalled, making it one of the largest recall in history. One state Attorney General said companies have a legal and moral obligation to protect customers from defective products like these.

Takata has since filed for bankruptcy after facing the enormous expense of worldwide recalls. The company has since signed an agreement, selling most of its assets for $1.58 billion. All proceeds are to be used to pay existing debts and compensate victims. This recall will continue until 2019, according to the National Highway Traffic Safety Administration.

Because of the company's negligence, many lives have been lost, and hundreds of others have been injured by a product that may have been defective for years. Court documents claim Takata had known about test failures in their airbags dating back as far as 2004, but no one took action. In Texas, families with loved ones who have been injured or killed by an auto defect may benefit from consulting with a personal injury attorney to investigate their case and determine if a monetary settlement is in order.

Source: news-journal.com, "States reach $650M settlement over exploding Takata air bags", Ashley Halsey III, Feb. 24, 2018

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