Takata Airbag Class Action is a big deal in Australia. This lawsuit includes around 2 million vehicles from many respected manufacturers. At the time of making this post, the defendants have agreed for a settlement and the registration process has started.
While things do look good for Regency (litigation funder), there are many missing parts in the equation. In a class action lawsuit, many things will always have a sense of mysteriousness around them. Of course, in time the court will put an end to all the variables.
However, until the final judgement is passed, estimated figures are the only thing we are left with. If you are a member of this lawsuit and would like to know all the important aspects surrounding it, then continue reading.
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What is Takata Airbag Class Action About?
Takata Airbag Class Action as the name suggests is about the Takata’s airbags. Plaintiffs have alleged that the underlying firm compromised on quality and engaged in a lot of deceptive and misleading practises. As a result, the end consumers had to bear a lot of damages and the bills apparently ran well above thousands of dollars.
While on one hand speculations are high, the fact that settlement is taking place is true. As the matter is not well covered by many sources, we suggest you visit the official sources only to get all the information and updates.
Also, do not forget to register yourself or else you will not benefit anything from this lawsuit. Keep reading to know more about different aspects of the case and for key dates check out the last but one paragraph.
In order to be a class member, you should be someone that satisfies the following requirements.
- You acquired a Toyota, Lexus, Subaru, Honda, BMW, Nissan, or Mazda-branded vehicle in Australia during the Relevant Period that was equipped with a Takata Corporation front driver or passenger airbag and was subject to a Takata safety recall.
- On February 27, 2018, you still owned (or leased) the vehicle
- You did not complete and submit an opt out notice for the Takata Airbag Class Actions prior to the Court-ordered opt out deadline.
To get the list containing the relevant period, feel free to check out the airbagclassaction.com.
Takata Airbag Class Action Proposed Settlements
A 52 Million dollar settlement is proposed. However, the court has the final say in the matter. Even if the lawsuit is won, the end amount an eligible member would get would vary because of a lot of variables involved.
Things like legal costs, fees have to be deducted from the final settlement and the leftover will be distributed to the class members. Here’s a summary of proposed settlements.
- Regency intends to seek $13 million from the Court, or 25% of the settlement’s overall value, to support the six unique representative processes (including the Takata Airbag Class Actions).
- The plaintiffs intend to seek an order requiring payment of the reasonable legal expenses associated with the Takata Airbag Class Actions, which are expected to exceed $15,300,000.
- The plaintiffs intend to petition the Court to have the administrative costs of the settlement subtracted from the settlement sum.
- The plaintiffs intend to ask the Court for an order compensating them individually for their time and expenses as lead representatives in the Takata Airbag Class Actions.
How much will every participant get?
This one is always hard to answer. The amount of compensation an individual would receive is almost impossible to predict precisely. First of all, legal costs and fees will be deducted from the settlement amount.
Once all the formalities are cleared, the leftover amount is going to be distributed among the class members. Of course, the court will put a cap on Regency’s cut, but pretty much no one has control over all the expenses involved.
So, register yourself and wait for the communication from official sources to know your share of the pie.
In case you have any specific query about this class action lawsuit, then you have to contact a court approved administrator. Alternatively, you can get in touch with the staff of airbagclassaction as well.
The staff can be reached via email and contact form. Unfortunately, the response time, working hours and other related matters are not put up by them.
Email – info@AirBagClassAction.com
Registration and other Documents
To register yourself as a class member of Takata Airbag Class Action, all you have to do is fill out a simple online form. If you have any objections to the lawsuit, then you will get the opportunity to iron it out.
However, if you simply stay silent and do not take any action, then you won’t benefit from the lawsuit in any way. Like we mentioned before, to access the registration form, you just have to visit the official website.
The form itself is self-explanatory and there might be few additional things required if you have any objections to the terms and conditions. All the other court documents and notice of settlements are also published on the platform as well.
Looking at the way things are organised, clearly they have a good chance of holding their end of the bargain.
Takata Airbag Class Action Key Dates
- 17 January 2022 – ATGM opt out deadline
- 18 February 2022 – Objection deadline
- 18 February 2022 – Registration deadline
Takata Airbag Class Action is an interesting lawsuit. Though the exact way it will end is unknown, things do look promising. If you stand to benefit from this lawsuit, then follow the instructions on the official channel and be aware of the deadlines.
Do you know something about Takata Airbag Class Action that we didn’t already cover in this article? If yes, comment it down below and help other users make informed decisions.