CATERPILLAR news * USA: $60M settlement fund
* Illinois - Caterpillar class action leads to $60M settlement fund
--- Caterpillar has reached a settlement in a class action lawsuit over allegedly defective ACERT EPA 2007-compliant heavy-duty diesel engines, with owners of affected engines eligible to receive $500 to $10,000 per engine... The class action suit was a consolidation of a number of other lawsuits against the company, which exited the on-highway engine business in 2009... Customers alleged in the suit that Cat’s EPA 2007-compliant C13 and C15 engines (manufactured in 2006, 2007, 2008 and 2009) would lose horsepower and shut down... All class members who submit a valid claim will be eligible to receive a pro rata share of the fund according to the following guidelines:
A. Class members who experienced no CRS related repairs are eligible to receive (but not guaranteed) $500 for each engine.
B. Class members who experienced one to five qualified CRS related repairs are eligible to receive (but not guaranteed) $5,000 per engine.
C. Class members who experienced six or more qualified CRS related repairs are eligible to receive (but not guaranteed) $10,000 per engine...
(HDT file photo by STF) -- Peoria, Illinois, USA - Today's Trucking - Jun 30, 2016
Labels: truckmakers news USA