Announcing a Class Action Settlement Involving Current or Former Owners or Lessees of Certain Volkswagen or Audi Vehicles

MIAMI, Dec. 8, 2021 /PRNewswire/ --

A settlement has been reached in a class action lawsuit alleging that consumers sustained economic losses because they purchased or leased vehicles from Volkswagen AG, Volkswagen Group of America, Inc., VW Credit, Inc., Audi AG, or Audi of America, LLC (collectively "Volkswagen") containing allegedly defective airbags manufactured by Takata Corporation and its affiliates ("Takata"). The Settlement includes certain vehicles made by Volkswagen (the "Subject Vehicles"). Volkswagen denies any and all allegations of wrongdoing and the Court has not decided who is right.

Owners or lessees of Subject Vehicles who have already received a separate recall notice for their Volkswagen or Audi vehicle and have not yet had their Takata airbag repaired should do so as soon as possible.  When recalled Takata airbags deploy, they may, in very rare cases and under certain circumstances, spray metal debris toward vehicle occupants and may cause serious injury. However, some Volkswagen and Audi vehicles may be recalled for repair at a later date.  Please see www.nhtsa.gov/equipment/takata-recall-spotlight#for-consumers-overview for further details about which vehicles have been recalled and, if so, what owners or lessees should do.

The Settlement includes the following persons and entities:

• Owners or lessees, as of November 10, 2021, of a Subject Vehicle that was distributed for sale or lease in the United States or any of its territories or possessions, and
   
• Former owners or lessees of a Subject Vehicle that was distributed for sale or lease in the United States or any of its territories or possessions, who, between February 9, 2016 and November 10, 2021, sold or returned, pursuant to a lease, a Subject Vehicle.

A full list of the Subject Vehicles can be found at www.AutoAirbagSettlement.com. The Settlement does not involve claims of personal injury.

Volkswagen has agreed to a Settlement with a value of approximately $42 million, including a 20% credit for the Enhanced Rental Car/Loaner Program. The Settlement Funds will be used to pay for Settlement benefits and cover the costs of the Settlement over an approximately four-year period.

The Settlement offers several benefits for Class Members, including (1) payments for certain out-of-pocket expenses incurred related to a Takata airbag recall of a Subject Vehicle, (2) a Rental Car/Loaner Program while certain Subject Vehicles are awaiting repair, (3) an Outreach Program to maximize completion of the recall remedy, (4) additional cash payments to Class Members from residual settlement funds, if any remain, and (5) a Customer Support Program to help with repairs associated with replacement airbag inflators. The Settlement Website explains each of these benefits in detail.

Class Members must file a claim to receive a payment during the first four years of the Settlement.  If a Class Member still owns or leases a Subject Vehicle, they must also bring it to an authorized dealership for the recall remedy, as directed by a recall notice, if they have not already done so.  Visit the website and file a claim online or download one and file by mail. The deadline to file a claim will be at least one year from the date the Settlement is finalized. All deadlines will be posted on the website when they are known.

Class Members who do not want to be legally bound by the Settlement must exclude themselves by February 14, 2022. If Class Members do not exclude themselves, they will release any claims they may have against Volkswagen and the Released Parties, in exchange for certain settlement benefits. The potential available benefits are more fully described in the Settlement, available at the Settlement Website. Class Members may object to the Settlement by February 14, 2022.  Class Members cannot both exclude themselves from, and object to, the Settlement. The Long Form Notice for the Settlement available on www.AutoAirbagSettlement.com explains how Class Members can exclude themselves or object. The Court will hold a fairness hearing on March 7, 2022 to consider whether to finally approve the Settlement and a request for attorneys' fees of up to 30% of the total Settlement Amount. Class Members may appear at the fairness hearing, either by themselves or through an attorney they hire, but don't have to. For more information, including the relief, eligibility and release of claims, in English or Spanish, call 1-888-735-5596 or visit www.AutoAirbagSettlement.com.

URL: www.AutoAirbagSettlement.com

SOURCE United States District Court for the Southern District of Florida