Settlement Structure: Claims Made
Active: OpenCase Summary:
Porsche Financial Services, Inc. is settling a class action alleging it accepted standard-form motor vehicle lease agreements in Florida that overcharged lessees for rent and taxis on their single-payment leases. The complaint alleged the agreements did not use the lessee’s trade-in value as a Capitalized Cost Reduction (similar to a down payment) to reduce the cost of the consumers’ leases, which it claims is a violation of the Florida Unfair and Deceptive Trade Practices Act (FDUTPA).Docket Number:
Company: Porsche Financial Services, Inc.
Filing Deadline: January 1, 2100
Class Period: August 8, 2012
Objection Deadline: October 14, 2021
Exclusion Deadline: October 14, 2021
Final Approval Hearing: October 28, 2021Proof of Purchase:
No proof is requested and you do not need to submit a claim form. Presumably company records will be used to identify class members.Eligibility:
You may be eligible if you entered into a single-payment vehicle lease with a Florida Porsche dealer with the standard form Porsche Financial Services Motor Vehicle Lease Agreement, assigned to Porsche Financial Services, and if you traded in a vehicle with a positive monetary value that was not credited as a Capitalized Cost Reduction. Your lease must either be outstanding or terminated within four years before the filing of this action on August 8, 2016.Typical Settlement Amount:
Benefit: 100% of your overcharge. Payments will range from $254.29 to $13,465.55, and average $3,985.22, depending on the terms of your lease agreement, including the equity of your trade-in vehicle.
Total Settlement Amount: $298,891.34 for the Class Benefit; additional for attorneys and settlement costsClass Representative Proposed Incentive Fee:
Cory Watson PC
Weil Snyder & Ravindran, PA
Case Name: Cox v. Porsche Financial Services, Inc.
Settlement Website: Porsche Financial Services Leases Overcharge Settlement Website
Tilghman & Co., PC
Tilghman & Co., P.C.
P.O. Box 11487
Birmingham, Alabama 35202-1487