When is Toshiba to Pay the Class Action Settlement

Class actions lawsuits are really in a league of their own when it comes to filing complaints against companies and sue for damages as well as losses. While it only takes one consumer to actually initiate the suit, there must be a large number of other individuals who have suffered the same unfortunate outcome of the product or service. This actually makes them both a bit more accessible and also more complicated, which is part of their uniqueness. The reason it makes them more accessible is that smaller claim suits that would not be acceptable in most instances are able to be filed when they are added to hundreds or thousands of other individuals who have the same complaint. Meanwhile, this also adds a bit of complication to the process.

A good example of this is the recent suit filed against Toshiba. A class action DLP suit was filed in 2007 due to the malfunctioning of a television bulb, which continued to cause owners hundreds of dollars in fees and replacements and the new bulbs demonstrated the same poor quality and shortened life span. In this case there were about 265,000 individuals who were listed on the complaint and Toshiba was ordered to pay out over a million dollars. The question then became, which is a major part of most of these class action suits, when will Toshiba pay the claim?

And that’s a good question. In the case of Toshiba, the settlement has been closed and as of March 14, 2009 an update indicated that checks on the suit were being sent out. However, since the claim is closed, complaint submissions are no longer being allowed. This is actually more of a smooth case file, outcome and payment situation. The legal process can vary in time lengths and payment schedules. Sometimes a company will try and stall the payout, though when one is as well known and a household name they will generally pay out a settlement as required because they do not want to further damage their reputation or company name. Just as there are various factors affecting the viability of a lawsuit there are also different factors that contribute to the outcome process.

This entry was posted on Thursday, March 4th, 2010 at 3:21 pm and is filed under Corporate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

 

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