Ford agrees to $299.1 million U.S. Takata 'economic loss' settlement [MSN Money]
Ford Motor Company (F)
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Source: MSN Money
© REUTERS/Denis Balibouse The 88th Geneva International Motor Show Ford Motor Co (F.N) agreed to a $299.1 million so-called economic loss settlement covering at least 6 million U.S. vehicles with potentially faulty Takata air bag inflators, court documents filed in a federal court in Miami on Monday show. The settlement covers several forms of economic damages linked to the inflators, including claims that vehicles were inaccurately represented to be safe, and that buyers had overpaid for cars with defective or substandard air bags. Previously, six automakers to date have agreed to similar settlements collectively worth more than $1.2 billion including Honda Motor Co (7267.T), Toyota Motor Corp (7203.T), Nissan Motor Co (7201.T), Mazda Motor Corp (7261.T), Subaru Corp (7270.T) and BMW AG (BMWG.DE). (Reporting by David Shepardson; editing by Diane Craft)
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