Takata Stocks Plummet On Reports Of Looming Financial Disaster

“Related: U.S. firm is frontrunner to buy troubled airbag makerThe company’s shares have lost more than half their value so far this year.
Shares in the Japanese auto parts company plunged 17% on Monday following multiple reports that its exploding airbags scandal may soon drive it into bankruptcy.
According to Friday’s reports in Japanese and international media, Takata would file for bankruptcy protection in Japan and then in the U.S.
The stock was suspended Friday in response to the reports, which said the troubled company plans to file for bankruptcy protection as soon as this week.
In January, Takata pleaded guilty to corporate criminal charges in the U.S. and agreed to pay a $1 billion fine.

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