A federal judge approved a $42 million settlement with automakers Volkswagen Group of America Inc. and Audi of America LLC to resolve litigation over alleged use of defective Takata Corp. airbags.Chicago attorney Todd A. Smith of Smith LaCien LLP is co-lead counsel for economic loss in the multidistrict litigation, alongside David Boies of Boies Schiller Flexner LLP in New York.The settlement involves a class of more than 1 million members across the nation and covers 1.35 million vehicles. Final approval of the settlement …