Italian shipwreck survivors launch class action
January 19 2012, 12:45 pmClass action lawsuits are synonymous with large corporations and big business. For many people if you mention class action lawsuits they will immediately think of the likes of Enron, Wal-Mart and Exxon-Mobil.
There are however times when a class action lawsuit will emerge from other circumstances such as the recently wrecked Italian cruise ship, Costa Concordia which is still the scene of rescue efforts with 20 people still being reported as missing.
So far, it is understood that more than 70 surviving passengers have joined a class action suit against the ship’s owners Costa Crociere. According to some reports, the Italian consumer rights’ association Codacons hopes to get each passenger at least 10,000 Euros in compensation for material damage and for “the fear suffered, the holidays ruined and the serious risks endured”.
Exactly when this class action would come to court is unclear at this stage as the investigation is still in its early stages and the rescue operation is still ongoing. The task of searching for survivors and eventually getting the ship of the rocks, if at all possible will require a herculean effort.
For the captain of the ship, Francesco Schettino, there is mounting blame for the incident which could result in him being sentenced to twelve years in prison on the abandoning ship charge alone. For the ship owners, Carnival, almost a fifth of its value was lost on the Monday following the accident. The share price collapse wiped more than £1bn of their stock market value.
