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Takata formally admits guilt, agrees to $1 billion settlement

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Takata logo (photo by Flickr user jo.schz)It's been over a month since we heard about Takata's proposed billion-dollar settlement to end an investigation by U.S. officials into charges of criminal wrongdoing. Yesterday in Detroit, District Court Judge George Steeh formally approved that proposal. Most of the funds that Takata ponies up--around $850 million--will be allocated to automakers...

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