A proposed $741 million Takata airbag settlement has been granted final approval. The Takata airbag settlement involves multiple automakers, as Takata airbags have been used by many manufacturers in a variety of makes and models.

The final Takata airbag settlement, which includes major companies like Toyota, BMW, Subaru, and Mazda, came in response to several consumer class action lawsuits filed over significant airbag defects that could lead to injuries or, in some cases, even fatalities.

U.S. District Court Judge Federico A. Moreno approved the Takata airbag settlement.

Counsel for the class noted that the Takata airbag settlement was satisfactory. “We are pleased that the Toyota, BMW, Mazda and Subaru settlements received final approval because it means that our class members are closer to receiving the remaining benefits and compensation under the settlement agreements,” the lead class counsel told Law360.

But the Takata airbag settlement agreement did more than simply provide monetary compensation, the counsel noted. “These settlements will not only compensate our class members for their economic losses but will save lives.”

The Takata airbag settlement amount comes from several different manufacturers of varying amounts. Toyota is set to pay the largest amount.

Similar Takata airbag settlement agreements have been reached by Honda and Nissan, each for millions of dollars. Ford is the last defendant left in the Takata multidistrict litigation, or MDL. Instead of settling like these other automakers, Ford has moved to dismiss the case altogether.

Takata Airbag Recall Basics

Over the years, vehicles from a number of manufacturers have been installed with Takata airbag systems. Unfortunately, these airbags have recently been found to be defective, placing car owners at risk. Hundreds of thousands of vehicles have been impacted by the Takata airbag recall.

According to lawsuits, Takata airbags may explode without warning, injuring the driver or passengers. The explosion may blast metal shrapnel into the car, which can cause serious injuries or even death. These devices, which are supposed to save lives, actually put people in danger, lawsuits claim.

The allegedly defective Takata airbag system has been connected with hundreds of injuries and several deaths. A growing number of consumers who own vehicles involved in the recall have filed lawsuits against their car’s manufacturer and Takata itself, the airbag manufacturer. Takata has been hit with a slew of lawsuits and fines, and filed bankruptcy in June 2017.

Certain automakers have allegedly been aware of the dangerous defects linked with these Takata airbags for a significant period of time. However, many customers claim that their vehicle’s manufacturer failed to warn them about the serious risks associated with the airbag system.

Pursuing a Takata Airbag Lawsuit Against a Vehicle Manufacturer

Those who may be eligible to participate in a Takata airbag lawsuit or pursue a settlement are those who have either owned or leased one of the vehicles listed on our investigation page.

Filing a lawsuit over the Takata airbag recall cannot take away any pain and suffering caused by device failure, or property damage done to your car, but it can help to alleviate the financial burden caused by medical expenses and repair work.

Do YOU have a legal claim? Fill out the form on this page now for a free, immediate, and confidential case evaluation. The airbag injury attorneys who work with Top Class Actions will contact you if you qualify to let you know if an individual defective airbag recall lawsuit or defective airbag recall class action lawsuit is best for you. [In general, defective airbag recall lawsuits are filed individually by each plaintiff and are not class actions.] Hurry — statutes of limitations may apply.

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