Samsung’s Galaxy Note 7 was supposed to be a game-changer that would be far better than Apple’s iPhone 7 and 7 Plus. But a battery problem has turned the Note 7 into one of the biggest debacles for Samsung in recent years. Even as Samsung is scrambling to recall and replace about 2.5 million Galaxy Note 7 units worldwide due to battery explosions, a customer has sued the Korean company.
Man seeks $15,000 in compensatory damages
On Friday, a Florida man filed a lawsuit against Samsung Electronics America Inc. Jonathan Strobel sustained severe burns after his brand new Galaxy Note 7 exploded in his front pants pocket. According to Reuters, Boca Raton resident Strobel, 28, was in Costco on September 9 when his Note 7 exploded in his pocket. The phablet burned right through his pants, resulting in burns on his right leg.
Strobel added that he also suffered burns on his left thumb after he tried to remove the device from his pants. Strobel’s lawyer Kieth Pierro told media that his client had a “deep second-degree burn, the size of the phone.” Pierro said Samsung was a large corporation, and it knew exactly what was wrong with its product. According to the Palm Beach Post, Strobel had sought $15,000 in compensatory damages for lost wages, medical bills, pain, and suffering.
Here’s a round up of hedge funds’ May returns
Tyro Absolute Return Fund was down 1.5% for May. The fund's main contributors in May were Super Micro Computer, which gained 1.6%, Shyft Group, which was up 1%, and GCI Liberty, which gained 1%. Detractors in May include Recro Pharma, which fell 2.6%, index shorts and hedges, which declined 2%, and DXC Technology, which was Read More
92 reports of Galaxy Note 7 explosions in the US
Since the Galaxy Note 7 launch a month ago, Samsung has received 92 confirmed reports of battery explosions in the US alone. It includes 55 reports of property damages and 26 reports of burns. The lawsuit was filed a day after the Korean electronics giant recalled roughly one million units of Galaxy Note 7 in the United States. The recall has wiped out billions of dollars off Samsung’s market value.
The US Consumer Product Safety Commission (CPSC) on Thursday formalized the recall of the Note 7s in the US. The replacement devices will be available in the US retail stores on September 21. Earlier this month, Samsung had advised the Galaxy Note 7 owners to power down their devices because they could “overheat and pose a safety risk.” Many regulators around the world have also banned the use of Galaxy Note 7 in flights, trains and buses.