Class action Settlement papers

[fatmike]

Originally Posted by thom4782

I would hope that there is a large number of 986 owners, who either object to the proposed settlement or elect to exclude themselves from the settlement, so the court does not approve the proposal.

In my case, I have an 01S that 1) I purchased from a private party when it was just 2 years old, 2) has 105,000 to date, and 3) has not suffered an IMS failure. At best, I would receive 25 cents on the dollar if the car's IMS failed before it passes 130,000.

This makes the decision easy for me. I will object to the settlement. I've decided to choose this option for two reasons. There is a chance, albeit small, that the court will only approve a settlement that is more favorable to 986 owners. Second, even if the court approves the proposal, it isn't economically rational to sue on my own. The litigation costs would far exceed the total cost of buying an engine and installing it in my car.

I understood there was a deadline of 10 years after the in-service date. So if that is the case, then you wouldn't be entitled to anything in the event of a failure.



/

[thom4782]

Fatmike - you're absolutely right. I should have been more clear in the 10 year point.

As a practical matter, the proposed settlement excludes all 2001 and 2002 Boxter owners, who HAVE NOT ALREADY experienced an IMS failure, from receiving compensation for future IMS related damage. That's over 90% of all 2001 and 2002 owners. Some deal, huh?

2003 owners are on the non-compensation bubble. And the clock continues to tick for 2004 and 2005 owners. The only clear winners, if one can call them that, are the poor folks who have already had an IMS failure within the 10 year / 130,000 limits. They may get some money out of the deal.

Still, I plan to object. Worst case, I gain nothing. Best case, the court finds class member objections persuasive and advises the litigants that it will only consider more owner friendly settlement proposals. While it may be wishful thinking, maybe I'd get some love from the court and find myself in a position to receive some compensation for a future IMS failure. As I said, if I choose exclusion, it isn't reasonable for me to sue on my own.