August 3, 2009

The Washington Post has apparently just discovered the problem with American class action settlements: here's a report they have just published on the allegedly defective Ford Explorer design. The class action lawsuit filed in California state courts netted $37,500 (in discounts on future purchases of new Fords, not in cash) for the alleged victims, and a cool $25 million for the class attorneys. The local judges got to clear their dockets, so everyone is a winner except Ford shareholders and, oh yes, the allegedly aggrieved parties.