986 IMS class action law suite - Porsche loses (kind-a)

[ChrisZang]

IMS Class Action Suit 2001 through 2005 owners win Update Mar 12 - Rennlist Discussion Forums

[desert_porsche]

I don't get it. They include 2001-2005 vehicles, but exclude vehicles that are more than 10 years old. Me and my 2001 are left high and dry. Oh well :/

[mountainman]

It would make me very happy and my wallet.

[Crono0001]

Originally Posted by desert_porsche

I don't get it. They include 2001-2005 vehicles, but exclude vehicles that are more than 10 years old. Me and my 2001 are left high and dry. Oh well :/

In their defense, that means the car did make at least 10 years

[san rensho]

Originally Posted by desert_porsche

I don't get it. They include 2001-2005 vehicles, but exclude vehicles that are more than 10 years old. Me and my 2001 are left high and dry. Oh well :/

No, it excludes vehicles that didn't have a failure within ten years of being put in service. You could have a 2001 that had a failure in 2005 that would be covered, even though the car is over 12 years old today.

[thstone]

Guess who really won?

15. How will the lawyers be paid?
Class Counsel will ask the Court for attorneys’ fees and expenses up to $950,000.00, and $15,000.00 total for all Class Representatives, ($3,750.00 to Bruce Eisen, $3,750.00 to Kymmberli R. Ureda, $3,750.00 to Lee Smith and $3,750.00 to Frederick Nelson-Bonebrake) for their services to the Class. The Court may award less than these amounts. PCNA will separately pay the fees and expenses that the Court awards. These amounts will not come out of the funds for reimbursement payments to Class Members. PCNA has agreed not to oppose these fees and expenses. PCNA will also separately pay the costs to administer the settlement. A copy of Class Counsel’s petition for an award of attorneys’ fees and expenses and request for incentive awards to Class Representatives will be available at www.xxxxxxxxx.com as of [date].

[san rensho]

Originally Posted by thstone

Guess who really won?

15. How will the lawyers be paid?
Class Counsel will ask the Court for attorneys’ fees and expenses up to $950,000.00, and $15,000.00 total for all Class Representatives, ($3,750.00 to Bruce Eisen, $3,750.00 to Kymmberli R. Ureda, $3,750.00 to Lee Smith and $3,750.00 to Frederick Nelson-Bonebrake) for their services to the Class. The Court may award less than these amounts. PCNA will separately pay the fees and expenses that the Court awards. These amounts will not come out of the funds for reimbursement payments to Class Members. PCNA has agreed not to oppose these fees and expenses. PCNA will also separately pay the costs to administer the settlement. A copy of Class Counsel’s petition for an award of attorneys’ fees and expenses and request for incentive awards to Class Representatives will be available at www.xxxxxxxxx.com as of [date].

The lawyers took the case on a contingency, which means that if they didn't win or get a settlement, they get nothing. They also put tens and more likely hundreds of thousands of their own dollars to pay for experts and other costs to prove their case. Do you think Porsche just rolled over as soon as the lawsuit was filed? No, the plaintiffs had to prove their case to Porsche before they decided to settle. If they had lost, they would have lost the money they paid for experts and costs.

I can't understand how you were represented for free and still complain about the lawyers being compensated. If you are not happy, pony up about a million dollars and file your own lawsuit, you can still opt out of the class action.

[linklaw]

Who cares how much the lawyers make when it is being paid by PCNA and doesn't come out of the class members' pockets? Over the last several years I read posts from the experts on this board and others that a class action for IMSB failure would never succeed and was a waste of time. The experts on the issue even said they would not participate as witnesses, at any price. I have read posts from those who have had IMSB failure complaining that PCNA would not help them with repair or replacement costs. Now somebody has sued PCNA and has apparently achieved something that was thought to be impossible, payment by PCNA for IMSB failures, and someone is critical of how much money the lawyers will get paid? I agree with san rensho. Anybody who is upset with how much money PCNA will pay the Plaintiffs' lawyers should opt out of the class and go it on their own. If and when your IMSB goes bad, just pony up the cash and pay for it. You won't have to deal with any greedy lawyers or pesky lawsuits.

[Paul]

It only covers single row IMS bearing failures, if I read it correctly.

[thstone]

Originally Posted by san rensho

The lawyers took the case on a contingency, which means that if they didn't win or get a settlement, they get nothing. They also put tens and more likely hundreds of thousands of their own dollars to pay for experts and other costs to prove their case. Do you think Porsche just rolled over as soon as the lawsuit was filed? No, the plaintiffs had to prove their case to Porsche before they decided to settle. If they had lost, they would have lost the money they paid for experts and costs.

I can't understand how you were represented for free and still complain about the lawyers being compensated. If you are not happy, pony up about a million dollars and file your own lawsuit, you can still opt out of the class action.

Let's see: No compensation for lost value. Sliding payment scale down to 25% of cost if you bought your car used. 10 year limit on claims. No coverage for early year cars or later year cars. No double row bearing coverage. Etc, etc. Not exactly a stellar win.

[desert_porsche]

Originally Posted by san rensho

No, it excludes vehicles that didn't have a failure within ten years of being put in service. You could have a 2001 that had a failure in 2005 that would be covered, even though the car is over 12 years old today.

Ahh. Well. I guess that makes sense.

[Paul]

Interesting that we now have some failure rates for single row IMS bearings.