Report: Takata Expected to Plead Guilty as Part of $1B U.S. Settlement

MarketsReuters

Japanese auto parts manufacturer Takata Corp is expected to agree to plead guilty to fraud charges as early as Friday as part of a $1 billion settlement with the U.S. Justice Department to resolve the government's investigation into deadly air bag ruptures, sources said.

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The settlement is also expected to include restitution to some victims and automakers, who have been forced to recall vehicles with the defective inflators.

Takata air bag inflators have been linked to at least 16 deaths worldwide, including 11 U.S. deaths. Regulators have said recalls would eventually affect about 42 million U.S. vehicles with nearly 70 million Takata air bag inflators, making this the largest safety recall in U.S. history.

(Reporting by David Shepardson in New York; Editing by Bernadette Baum)

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