Takata, the embattled manufacturer of faulty airbags, is widely expected to pursue bankruptcy in the coming months. Industry insiders see no way for the manufacturer to continue doing business after agreeing to a one billion dollar settlement and pleading guilty to negligence in Federal courts.
This is not the end of the sad story of a business that put profits above human lives, resulting in at least sixteen deaths and hundreds of injuries. Takata will likely be purchased by another company as part of their restructuring, meaning many of the factories that produced defective parts will stay open. So long as Takata exists in any form, the story continues.
Bankruptcy proceedings should have only a minimal effect on those who were injured, or on the families of those killed by Takata products. A fund has been established that will continue to pay out against claims against the manufacturer. But once this fund is depleted, it is unclear what further action litigants might be able to take to be made whole.
Takata stands as a stark warning of the dangers of greed. The company continued to manufacture and sell faulty airbags, even as their product was literally exploding, causing significant injury and death. Millions of vehicles were equipped with these defective products even after it was clear they were fundamentally unsafe.
If you or someone you love has been injured due to a defective car or car part, Takata’s rise and fall makes clear how important it is to pursue a case against the manufacturer. So long as Takata was financially able, they continued to make dangerous parts. Only by holding the manufacturer accountable through lawsuits were these dangerous devices pulled from the market. Please contact an experienced attorney to guide you through the process.