Judge approves Ford Explorer rollover settlementEnlarge Photo
The lawsuit argued that Explorer SUVs lost about $1,000 in resale because of a perceived rollover danger. Under the settlement, owners who bought their Explorers between 1991 and 2001 are entitled to a $500 coupon towards purchasing a brand new explorer or a $300 coupon to buy any other Ford, Mercury or Lincoln product.
Explorer owners are unhappy with the decision claiming few of them will be able to take advantage of the coupons due to poor economic conditions and high fuel prices. The total bill for Ford is expected to top $50 million but of this lawyers are expected to walk away with more than $25 million, reports the Associated Press.
The class action lawsuit is separate from the numerous death and personal-injury lawsuits involving the Ford Explorer that continue to be argued in North American courts.