Three Takata Corp. executives have been indicted on criminal charges for their roles in a scheme to hide fatal defects in the company’s air bag inflators. The Japanese executives, Shinichi Tanaka, Hideo Nakajima, and Tsuneo Chikaraishi, allegedly falsified test data and reports provided to automakers for over a decade. In addition to the individual indictments, Takata has agreed to plead guilty to wire fraud and will pay $1 billion in penalties. These penalties include a $25 million fine and two restitution funds totaling $975 million to compensate victims and automakers. The faulty inflators have been linked to 16 deaths worldwide and have prompted the largest automotive recall in U.S. history.
Read the full article: Law360
Originally published by Emily Field | Nov 19, 2019 | Law360
