Takata Agrees to $1 Billion Dollar Fine

In a Detroit courtroom on Monday February 27, the fate was decided for the Takata Corporation.

Yoichiro Nomuro, Takata’s finance chief, entered a guilty plea of one count of wire fraud and has agreed to pay a $1 billion fine for concealing a defect of millions of air bag inflators.
The infected air bags would disperse metal shrapnel causing severe injury or in some cases death if the vehicle was involved in an auto accident.

According the the Judge in the case, the $1 billion fine is a good deal because the fine could have been $1.5 billion and that amount could have caused Takata to close its doors.

If you fear your vehicle is one that may be affected, please check out this website, and input your VIN to see if your vehicle is on the recall list. If your vehicle appears on the list, contact the dealership where you purchased your vehicle. They will be able to repair the airbag components at no charge to you.

Amy Ramirez

About Amy Ramirez:

Amy is a licensed insurance agent and serves clients with Patterson Legal Group in her position as Marketing and Office Assistant. Her strong background in the insurance field allows her to help guide clients through... Read More »

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