Pallone on Justice Department Settlement with Takata Corp.
Washington, D.C. – Energy and Commerce Ranking Member Frank Pallone, Jr. (D-NJ) released the following statement today on the Justice Department reaching a settlement with Takata Corp., which will include a total fine of $1 billion and criminal charges against the company. The settlement includes a $25 million criminal fine, $125 million in victim compensation, and $850 million to compensate automakers who have suffered losses from massive recalls.
“I’m pleased to see that the Takata Corporation is being held accountable for its criminal actions that led to at least 11 American deaths and serious injuries to more than 100 others. While Takata’s admission of fault is important and long overdue, I’ll continue monitoring this situation closely to ensure the victims are properly compensated through this settlement. Takata, automakers, and the National Highway Traffic Safety Administration must also redouble their efforts to get all of these defective cars off the roads until they are repaired so that no more Americans die because of these deadly airbags.”