Short Reports

Honda Motor Co. will recall 114,913 cars exported from Japan, including about 95,000 Acuras in the United States, to replace potentially defective transmission bolts that can become disconnected. In the United States and Canada, the recall affects some 1996-99 model-year Acura RLs and some 1996-98 Acura 3.2 TLs.

Metropolitan Life Insurance Co. proposed to pay $1.7 billion to settle a “global” class action policyholder lawsuit alleging misrepresentation in the sale of life insurance products. The case involves allegations of improper sales tactics, such as “churning,” and an alleged scheme called “vanishing premiums” in the sale of life insurance policies, annuities and other products. The policies were sold between 1982 through 1997 and affect at least 7 million policyholders.

Lucent Technologies Inc., the No. 1 telephone-equipment maker, agreed to acquire Excel Switching Corp. for $1.7 billion in stock, gaining products to boost sales to start-up phone companies.