45 State Attorney Generals, Including Nebraska’s, Reach Settlement With TK Holdings Inc for Faulty Airbags

45 State Attorney Generals, Including Nebraska’s, Reach Settlement With TK Holdings Inc  for Faulty Airbags

Nebraska’s Attorney General and those of 44 other states have reached a settlement with TK Holdings Inc., a subsidiary of Takata, over allegations the company hid safety flaws in its airbag systems. As part of the settlement, TK Holdings Inc. is reimbursing state’s investigation costs and agreed to pay an additional $650 million to states as a civil suit penalty.

However, since the company filed for chapter 11 bankruptcy last year, that $650 million figure being subordinated while it goes through reorganization. The settlement concludes the multi-state investigation into the company after at least 22 deaths were linked to flaws in TK Holdings Inc.’s airbags.