Takata's Guilty Plea to Be Considered Monday by U.S. Judge
- Feinberg role over compensation fund among items considered
- Company’s exploding air bags linked to 17 deaths worldwide
AUBURN HILLS, MI - AUGUST 19: A crash-test dummy sits in a testing sled at Takata's current crash-testing facility August 19, 2010 in Auburn Hills, Michigan. Takata dedicated a new, high-tech 18,000 square-foot sled crash simulation facility today that cost $14.6 million and is expected to be built and operational by August of 2011.
Photographer: Bill Pugliano/Getty ImagesA federal judge on Monday will consider Takata Corp.’s proposed $1 billion settlement over deadly automotive air bags that have claimed at least 17 lives around the world.
The Tokyo-based company is scheduled to enter a guilty plea in Detroit before U.S. District Judge George Caram Steeh to one count of wire fraud for falsifying data and reports provided to automakers. Takata agreed last month to pay a $25 million criminal fine and establish a $125 million fund to pay victims and a separate $850 million fund to reimburse automakers for recalls.