If You Own a Taurus Pistol A Settlement Has Been Proposed in a Class Action Lawsuit that Alleges Safety Defects
JACKSONVILLE, Fla., Oct. 14, 2015 /PRNewswire/ -- The following statement is being issued by Morris, Haynes, Wheeles, Knowles & Nelson and Bailey & Glasser LLP (Class Counsel); and Smith, Gambrell, & Russell, LLP (Taurus Counsel) regarding the Taurus Pistol settlement.
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If You Own a Taurus Pistol A Settlement Has Been Proposed in a Class Action Lawsuit that Alleges Safety Defects
The Settlement Provides an Enhanced Warranty, Safety Training, and a Cash Payment for Returned Pistols
The United States District Court for the Southern District of Florida authorized this notice.
Para una notificacion en Espanol, visitar www.tauruscartersettlement.com
WHAT'S THIS ABOUT?
There is a proposed class action settlement about alleged safety defects in certain Taurus-branded pistols. This lawsuit alleges that Class Pistols (defined below) may unintentionally fire with the safety in the "on" or "safe" position, and may unintentionally fire when dropped or bumped. The Taurus Companies1 ("Taurus") stand by the Class Pistols and deny all allegations of wrongdoing and liability.
WHO'S INCLUDED?
You may be a Settlement Class Member and have rights under this settlement if you are a resident or entity of the United States, Puerto Rico, U.S. Virgin Islands, or Guam and own one or more of the following Taurus-branded firearms on July 30, 2015: PT-111 Millennium; PT-132 Millennium; PT-138 Millennium; PT-140 Millennium; PT-145 Millennium; PT-745 Millennium; PT-609; PT-640; and PT-24/7 (the "Class Pistols").2 The settlement doesn't include Taurus G2 model pistols.
WHAT DOES THE SETTLEMENT PROVIDE?
Settlement Class Members may return their Class Pistol to Taurus (with shipping paid by Taurus) and receive up to $200 per pistol, depending on the total number returned, not to exceed $30 million. The exact payment amount will be determined after the return deadline has passed and the exact number of returned Class Pistols is known. If you return your Class Pistol for a payment, it will not be returned to you even if the payment is less than you want.
Also, Taurus will provide a free, transferrable lifetime enhanced warranty that will allow owners to submit warranty claims at any time. Taurus will pay shipping and inspection costs, and will repair or replace the pistol as necessary. Taurus will also provide safety training to all Settlement Class Members. Taurus will pay for notice and administration, a class representative award of up to $15,000, and Class Counsels' attorneys' fees and costs up to $9 million, payable over 4 years.
HOW DO YOU ASK FOR A PAYMENT?
You must submit a claim form and return your Class Pistol to receive a payment. Shipping is prepaid by Taurus. You can only submit a claim form after the settlement is finally approved and any appeals are concluded. This date is not yet known. You may register now through the website to get information about when you can submit a claim form. Visit the website to determine when you can submit a claim. If the Court approves the settlement and there are no appeals, the claims period will run from approximately February 24, 2016 until June 23, 2016.
WHAT ARE YOUR OTHER OPTIONS?
If you don't want to be bound by the settlement, you must exclude yourself by December 14, 2015, or you won't be able to sue, or continue to sue, Taurus about the legal claims in this case. If you exclude yourself, you can't get money from this settlement. You may object to this settlement by sending an objection by December 14, 2015 and you may have to give a deposition. Objections and opt-outs will be public record, even if they contain the identity of Settlement Class Members. Detailed information is on the website. If you do nothing, you will still receive the lifetime enhanced warranty and safety training but will not receive a payment, and you will still be bound by the settlement.
Before money is paid, the Court will hold a Final Approval hearing on January 20, 2016, to consider whether to approve the settlement. You may attend the hearing, but you don't have to. The Court will also consider the request for attorneys' fees and costs and an incentive award. The motion for attorneys' fees, costs and awards will be on the website.
This is only a Summary. For detailed information, call toll-free 1-(844) 528-0180, or visit www.tauruscartersettlement.com, or write to Carter v. Forjas Taurus, c/o Heffler Claims Group, P.O. Box 230, Philadelphia, PA 19107-0230.
1The "Taurus Companies" means Forjas Taurus, S.A., Taurus Holdings, Inc. And Taurus International Manufacturing, Inc. The Taurus Companies are the Defendants in the class action lawsuit.
2The "PRO" series of each model is included.
SOURCE Smith, Gambrell & Russell, LLP
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