Final OK Granted For $741M In Takata MDL Settlements

Law360, Miami (November 1, 2017, 7:23 PM EDT) -- A Florida federal judge on Wednesday granted final approval for $741 million in settlements reached by Toyota, BMW, Subaru and Mazda to resolve consumer class actions over dangerously defective Takata Corp. air bags, including an award of $166 million in attorneys’ fees for class counsel.

U.S. District Court Judge Federico A. Moreno issued the orders, along with dismissals of the classes’ economic loss claims against the four automakers, one week after holding a final fairness hearing in Miami. At the hearing, he heard from a handful of objectors, whose arguments he rejected in a separate order Wednesday.

“We are pleased that...

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