Ford Gets Initial OK On $300M Deal To Exit Takata MDL

By Nathan Hale (September 5, 2018, 8:19 PM EDT) -- A Florida federal judge granted preliminary approval on Wednesday to a $299.1 million deal for Ford Motor Co. to exit multidistrict litigation over defective Takata Corp. air bags and hasten the removal of dangerous air bag inflators from 6 million affected vehicles.

U.S. District Judge Federico A. Moreno said the agreement, which mirrors previous settlements with automakers in the sprawling case, appeared to meet the necessary requirements. He set a Dec. 11 fairness hearing ahead of determining final approval.

"We are pleased that Judge Moreno granted preliminary approval, and that our Ford class members are one step closer to seeing this...

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