Takata's U.S. Guilty Plea Sets Stage for Sale of Air-Bag Maker
- Guilty plea part of $1 billion Justice Department settlement
- Key Safety Systems in negotiations to purchase Takata
Takata Pleads Guilty in Deadly Air Bag Case
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A U.S. judge has accepted Takata Corp.’s guilty plea, made as part of a $1 billion settlement deal with the Justice Department, removing another obstacle to the Japanese air-bag maker’s sale.
The approval of the formal plea by U.S. District Judge George Caram Steeh settles the Justice Department’s investigation. The manufacturer is seeking a financial savior to help it complete the biggest product recall in history, expected to cover more than 100 million air bags after the defective devices were linked to 17 deaths worldwide.