Class Action -- Engine of Damocles: BMW E46 M3 Engine Failures

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Date Posted: 18:49:37 11/08/02 Fri
Author: Stan Nov. '01 SMG
Author Host/IP: gso56-131-102.triad.rr.com / 66.56.131.102
Subject: Class Action
In reply to: Tom (evilM3) 's message, "My thought re: $500 attorney's fee for extended" on 15:42:04 11/08/02 Fri

I'd like to remind everyone that there was a successful Class Action Suit against BMW for all owners of BMW M5's back in 1989, I believe. It really didn't take all that long and it was well worth the effort (Each owner got a $4,000 negotiable certificate towards any BMW.) In a nutshell, BMW advertised that they were only going to sell 500 e28 M5's for the US market. They got greedy and built about 855 more, glutting the market and causing the value of the first 500 to seriously erode.
While I am in agreement to contribute to the fund, I believe that we need to have a LLC or some sort of legal "firewall" that protects us individually from any counter-suits or excessive legal fees which might enure to each of us. We need legal guidance before we go too much further.
Regards, Stan

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Replies:

right on, that's been my plan, with one change -- Admin, 20:12:47 11/08/02 Fri
- Class Action -- Stan Nov. '01 SMG, 04:48:11 11/09/02 Sat
- I reject the certificate idea as settlement -- Tom (EvilM3), 12:40:13 11/09/02 Sat
  - totally agree, no certificates for me (NT) -- Admin, 13:05:50 11/09/02 Sat
Only problem I see with an LLP, LLP Inc., or whatever -- Tom (EvilM3), 12:29:50 11/09/02 Sat
- hmmmm, probably right, well...(m) -- Admin, 12:35:56 11/09/02 Sat
- hmmm -- Lee, 16:29:59 10/03/03 Fri