Honda Reaches $605M Deal To Exit Takata Air Bag MDL

Law360, Miami (September 1, 2017, 1:29 PM EDT) -- Honda Motor Co. Ltd. agreed to a $605 million settlement Friday to exit multidistrict litigation over defective Takata Corp. air bags that will accelerate removal of the dangerous air bag inflators from 16.5 million affected Honda vehicles.

The deal includes a $200 million fund to expand Takata air bag inflator recall efforts to try to reach owners of affected vehicles who have not been located or have not responded to recall notices, according to the car company. Honda will also set up a fund for class members who had to pay out-of-pocket expenses — such as for lost wages or childcare...

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