POLL: Your Response to the IMS Class Action Settlement (by 10-15-2013)
 

This is a poll on what the members here had or will respond to the IMS Class Action Settlement which is due by 10-15-2013.

I myself is still debating on whether to "Exclude Yourself" or "Object", being my 2003 is over 10 years in service although only has 80k miles. :confused:

http://i77.photobucket.com/albums/j7...psdf52f9ae.jpg

I think you need an option for both Exclude and Object.

I've been advised by chief counsel that, if your car doesn't meet the class requirements, you should STILL exclude yourself. Porsche seems to be protesting automatic exclusion.

For example, mine just failed at 10 years, 42 days. Failure to officially exclude myself would prevent me from pursuing something on my own. See page six of the class notice for instructions.

I just re read the description and it stated if you obeject then you can NOT be excluded from the settlement (last sentence in "Object").

Actually, I thinks it's the other way around: If you exclude yourself you can't object.

In any case, Porsche is arguing there is no automatic exclusion if your car falls outside the 10-year or mileage limits. That's good for them because if your car is outside the limits and you don't exclude yourself, you lose your ability to pursue a settlement on your own. They're counting on owners to be less then diligent here, default as part of the class and lose their rights to pursue Porsche individually.

LOL... the following 2 sentences meant the same thing;

1) Evo-R: "if you object then you can NOT be excluded from the settlement"
2) Foydawg: "If you exclude yourself you can't object."

As I understand it:

If your car is not part of the class, ignore it because the suit does not affect you.

If your car is a part of the class and you would like a reasonably good chance for reimbursement after a loss, submit a claim.

If your car is in the class and you are feeling lucky, and have your own lawyer who regularly wins big in these types of cases, and wish to roll the dice and go after Porsche on your own, ask to be excluded. I think the chances of a big settlement here are weak but stranger things have happened.

Good luck!

PS, My car is not in the class, my IMS was replaced as a preventative measure and showed no signs of failure. I will ignore this suit.

Ahh, but the notice says you can't object if you ask to be excluded, not that you can't be excluded if you object. You could excluded yourself AND object but your objection would seem to carry no weight.

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Car is more than 10 years old

Not in the Class. No failures. Nothing done to prevent it. 986 and 996 both over 120K miles. Your mileage may vary.

Just mailed my objection letter, let's hope for the best... :rolleyes:

Opt Out is the appropriate action!
 

I believe this settlement to be a "sweet" deal for Porsche. They have put a box around their losses (limited their losses) with this settlement. About 3/5 (and growing) of the class vehicles that have not yet experienced a failure are excluded from any future IMS loss reimbursement. (They have >135,000 miles or have been in service over 10 years).

You can see from the results of this survey that most respondents are going to do nothing. That is what Porsche is counting on. The only way you protect yourself and preserve your future rights to join litigation is to OPT OUT!

I believe to OBJECT is a risky path. You will still be bound by the settlement and the chances of a favorable change is slim to none, in my opinion.

Jim Gibson