anyone planning on settling with individual suit rather than take main VW settlement?

I know this is not a popular course of action on this site but for those people if anyone that signed up with lawyers to pursue a case against VW privately (using lemon law etc.) are you planning on sticking to that or are you going to just abandon it and take the cash currently on offer from VW.
I guess it's a gamble if you believe you would get more from a private settlement than you would from VW or if you might lose it all if they lose the case..

Anyone?

I'm an old fart. I do not have 10 or 15 years to wait for any legal action to wend its way through the courts. The fix or buyback will occur within a year or so, but any individual law suits could easily take many years to be settled. My time is worth more than that.

Have Fun!

Don

Risk vs. reward. Take the settlement. Odds of beating by a large enough amount is slim.

JSWTDI09 said:

I'm an old fart. I do not have 10 or 15 years to wait for any legal action to wend its way through the courts. The fix or buyback will occur within a year or so, but any individual law suits could easily take many years to be settled. My time is worth more than that.

Have Fun!

Don

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I totally agree with Don. If you choose to hire a law firm to sue for wrong doing in this matter you have to realize that the best interest is for the law firm that represents you and the money they will get if they pursue the case. You will be footing their bill.
Read up on that for while rather than asking the forum member to give you direction.

Keep in mind, if you opt-out and hire your attorney, his/her fees will come out of your pocket. That means to break-even you will have to receive at least 140% of what is being offered in the class action settlement.

The settlement is pretty good as-is, with a fast turn-around, and VW is also paying your attorney fees. Just my opinion, but opting-out would be pretty dumb unless you think you could get triple damages, and you're ok with waiting another year or two (maybe more) before you see any money.

I'd be shocked if any independent suit got anything at all, honestly.

I'm a lawyer. Anyone who would sue VW rather than take the settlement would be making a big mistake.

There's going to be a lot of calculated paths. A separate suit is most unattractive, over the independent time & money mentioned. That said, I have no doubt you'd get something. There's no punitive reproach of a TDI owner, just because they opt out. This is a fraud. VW admitted guilt. So, being "shocked if an independent suit got anything at all" is kind of a strange thing to say.

Some people have >30k transaction values, who are being taken out at $12k. Getting $2,900 above market value is what VW wants to do. No reason they couldn't seek purchase price, and negotiate down for mileage and age. If a court nullifies a transaction because of fraud, I don't see how the value of the transaction could be dropped from, at least, consideration. Tough call, depending upon how you fared in the settlement.

85% will be a struggle. In my eyes, I don't see how they get there whether or not a fix is approved. If it's ~17,000 per car they're fined, I'd like to know if they forgo having to buy the car, after paying the fine? However that works is one way those who'd stick with VW could possibly make some crazy trades, as 2018 nears. It's language to read up on, anyway.

This settlement needs its own Wiki page.

MrSprdSheet, you don't seem to be accounting for the costs associated with the lawsuit, which is why people with experience on this topic are saying we'd be surprised anyone would do it and make out better than the settlement offer.

bizzle said:

MrSprdSheet, you don't seem to be accounting for the costs associated with the lawsuit, which is why people with experience on this topic are saying we'd be surprised anyone would do it and make out better than the settlement offer.

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IANAL and all that

Typically if you win, the loser pays your costs in addition to the settlement. (Not talking Class Action but private suit). And if there is a "punitive" judgement in addition, that would be in addition to costs and could cost a lot.

However, actually winning such a case is probably a long shot, admittance to fraud not withstanding.

IANAL and I will be taking the settlement myself.

chadbag said:

Typically if you win, the loser pays your costs in addition to the settlement.

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The losing party ordinarily pays the court costs, but the normal American rule is that each party pays their own attorney's fees. There are some statutes that impose attorney's fees on a losing party, but that isn't the norm.