The Ford CCVT transmission has been the subject of numerous complaints from owners. While the company has been trying to address the issue, it continues to obstruct customers’ access to a fix. This lawsuit alleges that the company has known of the problems with the transmission since 2011, but has failed to bring the problem to the consumers’ attention before selling their vehicles. As a result, the defect remains unresolved and owners are unable to obtain a remedy.
The settlement is a win-win solution for all parties involved.
It includes a minimum of $30 million in cash payments, separate from the Ford buyback program. The money is set aside in smaller amounts ranging from $20 to $2,350. Unless the plaintiffs can prove that the settlement money is not enough, Ford must distribute the remaining cash. This means that the CCVT transmission class action lawsuit has the potential to lead to a large number of cash payouts.
There are several claims filed in this case. Some of these may have already been resolved by now, but pending litigation has made them impossible to resolve. A federal judge in California has dismissed a fraudulent concealment claim related to the DPS6 “PowerShift” system, finding that the term “automatic” is not deceptive. A state court judge in San Diego has tentatively ruled that a claim relating to fraudulent concealment against Ford is viable.
Ford claims that the company knew about the defect and did nothing to remedy the situation.
As of December 31, 2019, Ford has paid over $47.4 million to resolve the buyback claims. However, the settlement also has other implications. For example, the company has agreed to a $20 one-time payment to owners of a recalled vehicle. The amended settlement will allow them to obtain a minimum of $1000 cash payouts if they can prove that the vehicle’s transmission was defective at the time of purchase.
The company has agreed to settle the claims for $160 million. Nevertheless, it is not yet clear if the settlement will resolve the claims for the other victims. The settlement will make it easier for former owners to receive buyback payments in arbitration. It will also provide an additional $20 payment to those who did not opt-out of the lawsuit. The proposed agreement was reached by the companies. Although Ford has admitted that the settlement will not resolve all the claims, it is still a big help to the consumers.
The Ford CCVT transmission class action lawsuit is still ongoing.
The plaintiffs’ attorneys are working to resolve the lawsuits in a fairway. In the meantime, the settlement is still being reviewed by the court. In addition to receiving cash payments, Ford may also provide a vehicle repurchase. The company has also agreed to pay for the purchase of the vehicle if it is sold with a defective transmission.
While the class action lawsuit has been filed since 2012, it is still ongoing. There is no definitive conclusion yet. However, the settlement will provide financial relief to more than two million Ford owners. The payouts will be given in cash. The settlement will also include a $20 inconvenience payment for some affected drivers and a $2,350 cash payment for others. The total buyback will be determined at the hearing scheduled for next month.
The Ford settlement includes a minimum of $30 million in cash payments to class members.
This is separate from the buyback program, and the payments are small, ranging from $20 to $2,350. The agreement requires the automaker to spend the entire $30 million by 2020. If it doesn’t, the residual amount will be distributed to the class members. The money must be distributed by the court. The settlement should be a fair deal for all parties.
The lawsuit is a long-term solution for the owners of Ford cars. The automaker has not responded to the lawsuit. It is a major setback for consumers who have lost their cars due to the transmission. The lawsuit is worth every penny if the company doesn’t give you the help you need. The damages are significant, and the plaintiffs must take their case to trial to recover compensation.
