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-   -   Kryptonite Class Action Lwasuit (http://www.bikeforums.net/general-cycling-discussion/93856-kryptonite-class-action-lwasuit.html)

supcom 03-18-05 10:39 PM

Kryptonite Class Action Lwasuit
 
Yes, it's come to that. I received a letter today from the "Kryptonite U-Lock Litagation Settlement" informing me of a proposed settlement to a class action lawsuit regarding the tubular key locks. I suspect that everyone who has a registered lock of the type included in the suit will be getting one.

The pending settlement allows class members to choose relief in the form of either a free comparable lock exchange, or a $10 certificate good for a future Kryptonite purchase. There is also relief granted to anyone who had a bike stolen by violation of the lock mechanism of up to $3000.

The attorneys will get up to $690,000 as compensation for their efforts.

Although the settlement is not yet final, if you are a member of the class, you can get instructions on filing a claim by going to www.kryptonitesettlement.com (well, not quite yet, but the site is up). An address is provided for opting out of the class, should a class member wish to do so (presumably to pursue separate litigation).

I find it curious that the proposed settlement provides little more benefit to lock owners above what Kryptonite has already implemented voluntarily and without a lawsuit - namely the free exchange of tubular key locks. A $10 voucher is far inferior to a lock exchange (you do keep your lock under this option) though a bike theft reimbursement would be good if you had a bike stolen and can qualify for the reimbursement.

I, for one, am glad that I have already gotten my replacement lock without helping to enrich some attorneys. Does anyone know if opting out of a class action settlement reduces the compensation received by the lawyers?

ultra-g 03-18-05 10:49 PM

Whoopie!! I got the notice in the mail today and threw it out.

Raiyn 03-19-05 12:45 AM

Quote:

Originally Posted by supcom
I, for one, am glad that I have already gotten my replacement lock without helping to enrich some attorneys. Does anyone know if opting out of a class action settlement reduces the compensation received by the lawyers?

I wish someone would sue Master Lock for this rather than Kryptonite. (see http://www.bikeforums.net/general-cycling-discussion/67066-master-lock-run-around.html) It would figure that the lawyers would get some dumbass to use as a plaintiff. Not as though we'll get anything. To be honest I got the ONE thing I wanted: a new lock. I didn't have to sue anyone either. Just make a few phone calls.

Lawrence A Rosen, where ever you are. You are a straight up dumbass ***************** ******bag buttmunch of EPIC propprtions. <violent threatening message portion deleted>

Scooby Snax 03-19-05 07:57 AM

Raiyn, Im guessing Master still dont think that there is a problem eh?

Well I was more than satisfied that Kryptonite replaced my lock, that shows what they're made of, they've made a mistake, and they have offered to make ammends. It takes Cajones to do that.
I wonder how much this is costing them, are they "up charging" on their new locks? To make up the difference?
I would, you're going to have a large number of master / norco / no name U Lock customers eyeing your product.

alanbikehouston 03-19-05 09:42 AM

There are three things about this whole "round key" lock story that seem certain:


-more than a dozen companies and brands distributed bike locks that used round keys

-there has not been ONE proven, documented instance of a bike being stolen because the Kryptonite lock was "picked" by a thief

-Kryptonite is the ONLY bike company that offered a free lock to anyone who owns their brand of lock, regardless of its age or condition.


So, some law firm is going to extract hundreds of thousands of dollars in legal fees and administrative costs for going after the ONLY lock company that acted responsibly when consumers became concerned about round key locks. AND, that law firm will get those big fees without having to prove that even ONE person suffered a loss as a result of their Kryptonite lock being picked.

Most "lawyer bashing" is just mindless nonsense. But, if I were to meet the lawyer stirring up this bit of mischief, I might be tempted to do a bit of "lawyer bashing" myself.

Ubie 03-19-05 09:48 AM

Got five notices in the mail yesterday. Since i've already had four (two of mine, two of my roomies) locks replaced, i'm not particularly concerned about it. I would have gone that route given the options anyway. And i can say nothing but good about how Kryptonite has handled this. I even got an upgrade on one lock, their mistake, and they said to keep it. I traded in two Kryptoloks and got back one new Kryptolok and one New York 3000 lock. Called Krytponite about it, and they said don't worry about it, just keep the upgraded lock, unless i *really* wanted to just have another Kryptolok. Also specifically mentioned they would honor the upgraded insurance on the 3000 as well.

2manybikes 03-19-05 10:11 AM

Quote:

Originally Posted by alanbikehouston
There are three things about this whole "round key" lock story that seem certain:


-more than a dozen companies and brands distributed bike locks that used round keys

-there has not been ONE proven, documented instance of a bike being stolen because the Kryptonite lock was "picked" by a thief

-Kryptonite is the ONLY bike company that offered a free lock to anyone who owns their brand of lock, regardless of its age or condition.


So, some law firm is going to extract hundreds of thousands of dollars in legal fees and administrative costs for going after the ONLY lock company that acted responsibly when consumers became concerned about round key locks. AND, that law firm will get those big fees without having to prove that even ONE person suffered a loss as a result of their Kryptonite lock being picked.

Most "lawyer bashing" is just mindless nonsense. But, if I were to meet the lawyer stirring up this bit of mischief, I might be tempted to do a bit of "lawyer bashing" myself.

On the surface, only knowing that, I might agree with you 100%. Especially as I have a new NY lock, Evolution long shackle, Mini, and NY chain lock. I did not even pay shipping. That's a lot of money on Kryptonite's part to make me happy.

But here's what I wonder about. .... I recieved my letter about the settlment today. I have the letter today meaning this is a preliminary approval of settlemnent now. To get this far, this has been in the court system since before I even heard about the exchange program. It is likely the begining of the law suit was before the start of the exchange program. In fact it's almost a sure thing. The law suit is probably a big factor in why I now have my new locks. I still don't think the amount of money to the lawyers is correct, but we may have all benefited from the law suit. ???


AND ..............Thank you Bike Forums !! And forum members !! Four new locks for free !! :eek:


I first learned about the exchange program here !! This is the only place I learned anything about it. I saw the bic pick on TV, but nothing about how to get a new lock.

:beer:

NYCBM 03-19-05 10:18 AM

I also recieved the same letter today. I wish it came with the new lock cause im still waiting for it.

BostonFixed 03-19-05 11:11 AM

The class action lawsuit was filed December 27, 2004, well after the exchange had been announced and was well underway.

2manybikes 03-19-05 10:26 PM

Quote:

Originally Posted by BostonFixed
The class action lawsuit was filed December 27, 2004, well after the exchange had been announced and was well underway.

Thanks Boston fixed. I stand corrected.

But, I did 60 miles today on my track bike. (freewheel) that's much more important. :)

iamlucky13 03-19-05 10:43 PM

Quote:

Originally Posted by BostonFixed
The class action lawsuit was filed December 27, 2004, well after the exchange had been announced and was well underway.

I generally try not to make too many criticisms based on stereotypes, but in this case, I have to say: stupid jack@$$ lawyers.

I don't think Kryptonite's handling of the situation was perfect, but it was pretty darn good. Good enough that I'm not going to shy away from buying Kryptonite locks in the future. It was not very long after the problem became general knowledge (as opposed to the secret of a few kids who liked to tinker) that Kryptonite announced the exchange. Granted, some people had long waits, but that was inevitable. It's not like they can realistically keep a couple million spare locks in a warehouse for some contingency. Of course, the $690,000 has to eventually affect the price of the locks we buy.

(OT) Still this isn't nearly as bad as the crap Microsoft has to deal with. They lost a case in California last year with a $1.1 billion settlement. I'm not a fan of MS and I wouldn't be surprised. The legal costs, however, were billed at $258 million! The average billing was $2000/hour for attorneys and $1000/hour for administrative work! $1000/hour for filing papers, making copies, and making appointments! I don't want to know how much they claimed coffee was worth. I don't know the ending, but Microsoft was trying to get the fees lowered to something "reasonable."

Rev.Chuck 03-19-05 10:54 PM

FREEWHEEL!! Sissy.

It has been really cool to see these posts. I think Kryptonite has done a good job trying to fix what is an evolved problem, not something they caused by making an inferior product.

Remember Suntour? They went bankrupt when they covered a problem with coaster hubs on thousands and thousands of cheap kids wheels. I hope this does not happen to Krypto, they thought, I think, they were making a great product. In reality it will not kill them, they made good on a problem and they are also part of Ingersol Rand a big freaking company.

Fugazi Dave 03-19-05 11:48 PM

I got two copies of that letter in the mail today. Big whoop. I filed for replacement of my lock in October. On January 7 I got an email saying I was being sent my shipping labels. Still waiting. Tracking number yields "billing information received," IOW keep waiting. I figure I might have my replacement lock by summer. Maybe.

2manybikes 03-20-05 12:10 AM

Quote:

Originally Posted by Rev.Chuck
FREEWHEEL!! Sissy.


:roflmao: :roflmao: :roflmao:


I guess I'm just a little girly maaaan !! ya !! :)

Raiyn 03-20-05 02:05 AM

Quote:

Originally Posted by BostonFixed
The class action lawsuit was filed December 27, 2004, well after the exchange had been announced and was well underway.

Figures that the ass would file it on my birthday. I thought I felt aripple in the Force that day. :rolleyes:


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