While most of these class action lawsuits are a joke, not all are.
In the mid 90's I able to get all of the polybutylene plumbing ripped out if my house and replaced with copper under a class action lawsuit. In addition I was reimbursed for the repairs and damages from 2 leaks the occurred prior the house being replumbed. This was a very big job amounting to several thousand dollars but could have been even more since both of my leaks very fairly minor and didn't do a lot of damage.
On the other hand, the Trek lawsuit is laughable. It doesn't seem terribly worse than most of the garbage that comes out of these marketing departments.