It could be anything, you could have had an advertisement misinterpreted and offended a marginalized group. You could have started a program that had unintended consequences and caused a big problem. You could have even had people killed because of a faulty part or reaction. Whatever it is, you need to address the problem as quickly as possible. Do what can be done to make the situation right. Even if it costs a little money, your company will lose even more if you don't take care of a delicate situation. Besides making financial restitutions and issuing retractions, make a heartfelt apology. Don't make the apology to the news camera (well, I guess if you get that chance you probably should) instead, make the apology directly to the people who were hurt.