Consumers who purchased a vehicle from Del Amo Motorsports might be eligible to receive benefits as the result of a recent preliminarily approved class action settlement.
Primary plaintiff Genes P. Ferreras filed the class action lawsuit against Del Amo Motorsports alleging the company offered financing for the purchase of motorcycles via the promotion of branded credit cards. Some of the branded credit card offers occurred at the point of sale. Ferreras asserted in the class action lawsuit that Del Amo Motorsports failed to disclose the details of the motorcycle financing as required by law. The lead plaintiff claims Del Amo Motorsports violated the California Rees-Levering Automobile Sales Finance Act, which prohibits companies from making false and deceptive declarations in regards to credit card repayment terms and the establishment of interest rate policies.
The class action settlement requires Del Amo Motorsports to set up a fund worth $956,420 that distributes to primary plaintiff Ferreras as an incentive award, as well as to eligible class members. Some of the settlement fund takes care of court costs and attorney fees. Del Amo Motorsports continues to deny the class action lawsuit allegations. However, the company decided to settle the case to avoid the high costs associated with a lengthy civil trial.
What You Need To Know About The Del Amo Motorsports Credit Card Financing Class Action Settlement
According to class counsel, eligible class members “include all California persons who, between Nov. 10, 2011 and Oct. 31, 2016, purchased vehicles from Del Amo Motorsports under such terms that vest title in the buyer only after payment of part or all of the purchase price, or after satisfaction of some other condition; and the contract for the sale fails to state in a single document all the relevant contractual terms regarding total cost and payment, including the applicable interest rate.” Qualifying class members have until September 8, 2017 to opt out of the class action settlement or dispute any provision of the legally binding agreement. The potential award partially depends on the amount of financing each claimant used to purchase a Del Amo Motorsports vehicle.
The Del Amo Motorsports class action settlement does not require eligible class members to submit a claim form. Compensation distributes automatically to eligible class members by referring to the sales records presented by Del Amo Motorsports. The judge presiding over the class action settlement case Ferreras v. Too Fast Inc. dba Del Amo Motorsports, Case No. BC600720, in Los Angeles County Superior Court has scheduled the final hearing on October 25, 2017. Refer to the class action settlement website www.FerrerasDelAmo.com to learn what transpired at the final hearing, as well as review the list of attorneys who represent the class and defense counsels.
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