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Class-action Lawsuits ONLY benefit Plaintiffs' Lawyers
Posted by Rob in Atlanta [Email] (more from Rob in Atlanta) on Fri, 16 Jul 2004 06:17:20
In Reply to: Re: dump it, FAST!, Steve, Sun, 11 Jul 2004 11:39:44
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I sympathize with the plight of the V6 owners. However, YOU will pay one way or another!
Class action lawsuits only cost the manufacturer initially. The costs of defending and paying settlments/judgments from such actions are eventually passed on to the consumer. It is estimated that several thousand (2-3 apx) dollars of the price of each new car can be directly attributed to large and/or class-action lawsuits. Certainly there are some eggregious situations that demand action, but normally the problems are much less severe or clear. Typically the only parties that make out in such actions are the attorneys - especially the plaintiffs' lawyers. For example Some of the plaintiffs' lawyers in the recent class-action tobacco litigation received fees of SEVERAL HUNDRED MILLION DOLLARS each. Don't get me wrong, I'm not defending car makers that KNOWINGLY produce unsafe or faulty products (nor am I defending unscrupulous tobacco companies), I'm just pointing out some of the reality of these actions.
Assuming that a class-action lawsuit were to be filed on behalf of Saab NG 900 V6 owners, the likely outcome would be a settlement and the actual owners would likely only get some pittance - not full reimbursement. The actual owners might get something like a $100 off certificate for the purchase of a new Saab. The plaintiffs' lawyers would likely get some percentage (normally in the 20-30%) of the entire settlement amount as compensation for their fees. Purchasers of new Saabs would then pay for the cost of the settlement and the payement of the Plaintiffs' Attorneys' fees and the costs of Saab defense attorneys in the form of higher prices for their new cars. Rather a nasty situation all around. There is no perfect justice in this world.
Rob in Atlanta
'98 900S, 5-Door, Manual, 165K miles
posted by 68.17.5...
Posts in this Thread:
- V6s, Steve, Sun, 11 Jul 2004 07:49:33
- Re: V6s, beejay, Tue, 13 Jul 2004 19:59:20
- dump it, FAST!, Bill7, Sun, 11 Jul 2004 09:46:55
- Finding a good Saab mechanic is the first step., SWEDECAR
, Sun, 11 Jul 2004 08:52:24
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