Shimano to pay $11.5m penalty following crankset recall for failing to immediately report defect

Shimano has agreed to pay an $11.5 million civil penalty for failing to immediately report that its Hollowtech II cranksets contained a potentially hazardous defect.

The US Consumer Product Safety Commission (CPSC) has this week announced that Shimano will pay the penalty to settle a charge that it “knowingly failed to immediately report to CPSC, as required by law”, that its cranksets “contained a defect which could create a substantial product hazard or created an unreasonable risk of serious injury or death to consumers.”