Class action over a Mustang?

Consumers who purchased a limited edition model of the Ford Mustang filed a class action lawsuit Monday claiming that the vehicle was not as limited as advertised. According to the lawsuit, Ford deceived buyers about the number of 2007 Roush Stage 3 BlackJack vehicles produced and their resulting value. While Ford said there would be only 100 of the $59,000.00 Mustangs manufactured, the lawsuit claims Ford manufactured 100 more Mustangs in 2008.

The suit seeks more than $12 million in damages on behalf of at least 100 plaintiffs.

You can read the Reuters report HERE.

Class Actions begin to add up.

The number of subprime-related class-action lawsuits filed during the first half of 2008 has surpassed those filed in all other areas combined, a recently released report says. Cornerstone Research and Stanford Law’s Securities Class Action Clearinghouse found that the vast majority of financial class actions filed during the first half of the year stemmed from subprime issues. The report also notes that the median loss leading to these class actions was $243 million and that losses haven’t been so high since the flurry of class actions between 2000 and 2002.

For more information, see HERE.

You can read the report HERE.