4 Automakers Pay $553M To Exit Takata Air Bag MDL

Law360, Miami (May 18, 2017, 1:15 PM EDT) -- Automakers Toyota, Subaru, Mazda and BMW have agreed to pay a combined $553.6 million to settle allegations in pending multidistrict litigation over dangerously defective Takata Corp. air bags, the plaintiffs announced Thursday.

Takata's air bag inflators have been linked to at least 11 deaths in the United States. (AP) Under the terms of the settlements, BMW of North America LLC will pay $131 million, Subaru of America Inc. will pay $68,262,257 and Mazda North American Operations agreed to pay $75,805,050. Toyota Motor Corp. will be on the hook for $278,500,000.

The deals are meant to accelerate the removal of dangerous air...

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