May 18, 2017 / 4:37 PM / a year ago

BRIEF-Four automakers to resolve economic loss claims in Takata multidistrict litigation in U.S.

May 18 (Reuters) - Mazda North American Operations:

* Says BMW, Mazda, Subaru, Toyota announce agreements to resolve economic loss claims in Takata multidistrict litigation in U.S.

* Says programs offered in these agreements are intended to increase recall remedy completion rates for Takata airbag inflators

* The automakers have jointly agreed to provide a total of approximately $553 million to fund consumer outreach, reimbursements

* BMW, Mazda, Subaru and Toyota announce settlement of Takata economic loss claims to improve recall remedy completion rates

* Says agreements “do not contain or constitute any admission of liability or fault by four automakers”

* Says agreements cover the 4 automakers’ vehicles recalled/subject to recall for Takata PSAN inflators as described in NHTSA’s 2015 consent orders

* Costs related to class member notification, claims administration, attorneys’ fees, class representative awards are also covered under settlements Source text for Eikon:

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