February 22, 2018 / 5:28 PM / 4 months ago

Takata agrees to settle U.S. probe by 44 state AGs over deadly air bags

WASHINGTON, Feb 22 (Reuters) - Takata Corp’s U.S. unit agreed Thursday to settle a probe by 44 state attorneys general into claims it concealed a deadly safety defect with air bag inflators.

TK Holdings Inc, which is in bankruptcy reorganization proceedings, agreed in the settlement to a $650 million civil penalty over the defect linked to at least 22 deaths. South Carolina Attorney General Alan Wilson said in a statement that because Takata does not have the money, the states “agreed not to collect this civil penalty in order to maximize the recovery available to consumers who were the victims.” (Reporting by David Shepardson)

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