Takata Stock Trading Halted Amid Reports Of Bankruptcy

Law360, New York (June 16, 2017, 6:35 PM EDT) -- The Tokyo Stock Exchange temporarily halted trading of shares of Takata Corp. on Friday, after local media reports that the embattled Japanese air bag manufacturer was getting ready to file for bankruptcy reorganization amid growing legal woes stemming from Takata air bag recalls.

Trading of Takata shares was suspended at 8:20 a.m. local time Friday, the Tokyo Stock Exchange said on its website, as “confirmation of authenticity of media reports related to beginning of civil rehabilitation proceeding.”

Japanese financial newspaper The Nikkei reported Friday that Takata...
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