Porsche Settles Class Action with Plaintiffs Represented by the Law Firm of Knapp Petersen & Clarke Regarding IMS Engine Failure
Glendale, CA (PRWEB) July 17, 2013 -- The law firm of Knapp Petersen & Clarke announces that a settlement has been reached in a class action lawsuit filed on behalf of certain Porsche owners and lessees who have faced or will face expensive Porsche engine failure repairs because of a defective component part, known as the IMS.
The settlement reached in Eisen v. Porsche Cars North America., Inc., UNITED STATES DISTRICT COURT FOR THE CENTRAL DISTRICT OF CALIFORNIA, Case No. CV11-09405 CAS (FFMx), will reimburse present and former owners and lessees of Porsche Boxster and 911 cars, model years 2001 through 2005, for money they spent to repair their vehicle due to a failure of the Intermediate Shaft (IMS). IMS is an engine component, the failure of which can lead to catastrophic engine failure and thousands of dollars in repair costs.
Porsche owners and lessees may be reimbursed up to 100% of their out-of-pocket costs, depending upon the mileage on the vehicle at the time of repair. The reimbursement includes all out-of-pocket engine damage and replacement costs, up to ten years from the vehicle first being placed in service, regardless of whether such damage or loss occurs before or after the notice of this settlement. The Porsche owners and lessees are also entitled up to two hundred dollars in expenses for mileage and towing.
Class Counsel Stephen M. Harris, of Knapp, Petersen & Clarke is pleased to have achieved a settlement that allows class members to recover their out-of-pocket losses as soon as possible, rather than having to wait through years of litigation and face the potential risks present in any trial.
"This settlement represents a wonderful result on behalf of current and former Porsche 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," Stephen Harris said.
Informative Website Established for Class Members
A website has been established for class members and members of the public to find out more information about the settlement. Please visit http://www.IMSPorscheSettlement.com to determine whether you are covered by the settlement, obtain a claim form, communicate with Class Counsel, or to learn more about the class action and its resolution.
About Class Counsel, Stephen M. Harris
Stephen M. Harris is a Director of Knapp Petersen & Clarke with over 30 years in the practice of law. Mr. Harris was appointed by the court as Class Counsel in the IMS Porsche Litigation. He attended DePaul University School of Law, receiving a Juris Doctor degree in 1983.
Stephen M. Harris, Knapp Petersen & Clarke, a Professional Corporation, http://www.IMSPorscheSettlement.com, +1 818-547-5100, [email protected]
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