Porsche Reaches $45M Settlement In Cooling Tube MDL

Law360, Los Angeles (July 26, 2013, 7:01 PM ET) -- Porsche Cars North America Inc. has reached a deal valued at up to $45 million settling a nationwide class action in multidistrict litigation accusing the company of knowingly installing faulty plastic cooling tubes in its Cayenne models.

Under the terms of the proposed agreement, class members will each receive between $1,500 and $1,800 for coolant pipe repairs, depending on whether the tubes have yet to fail. The agreement covers 42,000 U.S. owners of model year 2003 to 2006 Porsche Cayennes with V8 engines made between Jan....
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