Lawyers Suing Over Olds

CHICAGO--The Krislov & Associates Ltd. law firm here has filed a lawsuit against General Motors Corp. on behalf of everyone who owns or leases an Oldsmobile made after 1996.

They are seeking compensation for the expected reduction in value caused by GM’s announcement that it will phase out its Oldsmobile marketing division and brand over the next several years.

“The consumers claim that they bought vehicles that will now be worth substantially less than they would have been had GM not decided to stop producing the brand,” said lawyer Clint Krislov.

“Incredibly, GM is ignoring those people who have been loyal Oldsmobile customers,” he said. “We believe these loyal Oldsmobile customers should be compensated for having purchased cars that GM knew were soon going to be obsolete. Indeed, we think GM will want to ensure that Oldsmobile customers have a satisfying purchase experience and to maintain goodwill among owners of other GM vehicles, who may fear their brands may be next to be dropped.”

The “relief” sought by the lawyers could come in the form of extended warranties, an increase in trade-in for the next few years, rebates or other awards, Krislov said.

GM failed to tell purchasers of late model Oldsmobiles that it planned to stop producing the brand, the lawsuit says. “Had these consumers known that Oldsmobile would soon be obsolete, the plaintiffs claim they would not have purchased their vehicles or would have been able to negotiate a better deal,” he said, adding that Olds other owners are invited to join the court action.

For more information, contact www.krislovlaw.com.