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The jackstand didn't fail, the user of the jackstand failed.
I've posted this a million times. Always, ALWAYS, lift the car and place it on 4 jackstands, one at each lifting point on the side skirts. When the car is in the air with all four tires off the ground it cannot roll off the stands. Spend a little bit of money and by a high quality jack (one with a long saddle to reach the center jack points) and a set of 4 high quality jack stands that properly fit the lift points (i.e. a flat top stand vs. an axle-type stand).
Not having the details of this story, I'd bet the guy had the car on one stand, a stand of questionable quality. There was probably some side-load on the stand (rather than all the weight placed on top) and it failed because it was dealing with a side-load force it was not designed to support.
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