Ford Settles Class Action Over Defective Touchscreens

To avoid a potential $300 million in civil penalties, Ford has agreed to settle a class action claiming it knowingly sold vehicles with defective and unsafe touch screen systems.

Under terms of a proposed deal filed in court Friday night, Ford will pay a minimum $35 to consumers who had problems with faulty touch screen systems and offer up to $500 payouts and $2,000 discounts to those who paid for multiple software fixes. read more »

German carmakers are in the crosshairs

Shares in Germany’s leading carmakers fell sharply yesterday as the car manufacturers skidded into a fresh crisis, triggered by allegations that they operated a secret cartel to discuss prices and technology.

Daimler shares tumbled 3.7percent in morning trading on the Frankfurt Stock Market, while Volkswagen stock was marked down 2.9percent and by 2.5percent for BMW shares, as the carmakers faced up to the threat of a wave of lawsuits.

The weekly news magazine Der Spiegel reported last week that the carmakers, which also included VW’s luxury offshoots Porsche and Audi, have been consulting with each other since the 1990s over their vehicles, costs, suppliers and the handling of diesel emissions. read more »