Court’s Ruling on Fairness Hearing
On Thursday, January 30, 2014, the ORDER GRANTING MOTION FOR FINAL APPROVAL OF CLASS ACTION SETTLEMENT was filed and the Court ruled as follows:
“The Court concludes that the Settlement Agreement is fair, adequate, and reasonable. Accordingly, the Court hereby: (1) GRANTS certification of the settlement class; (2) GRANTS final settlement approval; (3) GRANTS the request for attorneys’ fees and expenses; (4) GRANTS the request for incentive awards for name plaintiffs; and (5) OVERRULES all objections to the settlement.”
You can expect payment to be made within a 120 days from January 30, 2014 for repairs which occurred prior to July 17, 2013, provided there are no appeals.
If You are a Porsche Boxster or 911 Owner / Lessee You May Be Entitled to Settlement Benefits
Plaintiffs assert that the Intermediate Shaft (“IMS”) in the engine of the Porsche Boxster and Porsche 911, model years 2001 through 2005, is defective. An IMS failure can cause catastrophic engine failure which may result in repair bills costing thousands and thousands of dollars.
The Eisen v. Porsche Cars North America., Inc. class action lawsuit was filed to help current and prior Porsche owners and Porsche lessees obtain reimbursement for out-of-pocket monies spent on repairs caused by the defective IMS.
A settlement has been reached in this lawsuit and the attorney who represents the certified class of Porsche owners, Stephen M. Harris, worked hard to ensure that the terms of the settlement are highly beneficial to those affected by the IMS failures in the Porsche Boxster and Porsche 911, model years 2001 through 2005.
Porsche will be reimbursing current and prior Porsche owners and Porsche lessees who owned or leased a Porsche Boxster and Porsche 911, model years 2001 through 2005 and documented out-of-pocket money spent on repairs to the vehicle related to an IMS failure. The reimbursed amount will be adjusted based upon the number of miles the vehicle had at the time of repair.
The settlement of this lawsuit represents a wonderful result on behalf of Porsche owners, former owners and lessees who have had to pay out-of-pocket costs related to repairing or replacing an engine which sustained damage as a result of a defective IMS.
To Participate In This Settlement:
- You must be a present owner or lessor or former owner or lessor of a Class Vehicle; and
- You must:
- Have suffered a documented IMS failure that caused you to pay for repairs out-of-pocket; or
- Have a documented IMS failure in the future that would require you to pay for repairs out-of-pocket.
Damages You Can Recover:
You can recover:
- Out-of-pocket money you spent to repair your vehicle after an IMS failure based upon the number of miles your vehicle had at the time of repair (see chart); and
- Up to $200 toward documented towing and/or rental car fees related to the IMS failure.
If You Have an IMS Failure After July 17, 2013:
You may recover your out-of-pocket documented damages for IMS related engine damage or replacement up to ten years after your vehicle was put in service or up to 130,000 total miles on the vehicle, whichever comes first.
If you suffer IMS related engine damage in the future, you must promptly inform Porsche at 1-800-486-9809. Porsche will inspect the vehicle to confirm the IMS failure and you will be given a claim form to fill out to begin the process of recovering your damages.
Please find more information here.
For any inquiries concerning receipt of your claim form submitted before the October 15, 2013 deadline, supporting documentation, issues concerning deficiencies, obtaining a claim number and control number, please contact the Settlement Administrator, Garden City Group, at 866.254.4760 or at firstname.lastname@example.org.