Takata Settles Airbag-Defect Claims with 44 U.S. States

Takata Corp. has settled claims tied to defective airbags with 44 states and the District of Columbia, according to New Jersey’s Attorney General, Gurbir Grewal.

The company’s U.S. subsidiary, TK Holdings, agreed to pay as much as $650 million to reimburse the states for the cost of their investigations and to resolve their claims on behalf of consumers. The deal still requires court approval and a hearing is scheduled for March 13 in Wilmington, Delaware.

TK Holdings filed for bankruptcy protection last year, as a result of the largest automotive recall in U.S. history. On Wednesday, the judge overseeing the ...