Johnson, et al. v. Victor Nissan Inc


46,000

Class Members

$46,000,000

Settlement Fund

03-14-1994

Date

Case Description


Class Plaintiffs filed a claim alleging that the 1987-90 Nissan XE and GXE C-22 minivans had a defect that caused the engine to overheat and potentially explode. In the resulting settlement, Nissan was required to buy back the defective vans for $5,000 to $7,000 depending on the model. Additionally, Nissan issued transferable discount certificates.

 

The certificate entitled class members to the following options:

$1,000 discount off the purchase or lease of a new or used Nissan vehicle if used by the person named on the certificate or transferred to the original certificate holder's spouse, parent, or child; or

 

$750 discount off the purchase or lease of a new or used Nissan vehicle if the original certificate holder transferred the certificate to anyone else.

 

Counsel for Plaintiffs:

Elton L. Johnson

Court Information


Case #
2:11-cv-00490-CF-N
Case Type
Antitrust
Court Type
District Court
Jurisdiction
The Southern District of Alabama Southern Division
Judge
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Industry
Automotive

CCC Performance


As the designated market maker, CCC helped to increase the redemption rate of the certificates to 12%. CCC was later informed that 6% of the class redeemed the coupons on another Nissan vehicle. Therefore, CCC more than doubled the amount of coupons that were redeemed, showing CCC’s expertise in increasing the certificate redemption rate and wringing value from the settlement which otherwise would not have happened.

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