A Florida federal judge has granted preliminary approval to a $299.1 million settlement for Ford Motor Co. to exit the multidistrict litigation regarding defective Takata Corp. air bags. The agreement, approved by U.S. District Judge Federico A. Moreno, is intended to speed up the removal of hazardous air bag inflators from approximately 6 million affected Ford vehicles. Under the terms of the deal, Ford will establish a comprehensive outreach program to contact owners and will compensate them for out-of-pocket expenses related to the recall. Lead class counsel Peter Prieto of Podhurst Orseck PA stated that the settlement will not only offer compensation but also aims to save lives by ensuring the defective inflators are replaced promptly.
Read the full article: Law360
Originally published by Nathan Hale | Sep 5, 2018 | Law360
