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This happened just before Ford bought Volvo. Law firm got >$4MM. Volvo 850T/R owners with low profile tires got new set of tires, $500 or $1000 credit for new Volvo. Multiple discussions in the brickboard archives. Some listed below....
http://www.brickboard.com/AWD/index.htm?id=431258
http://www.brickboard.com/AWD/index.htm?id=147070
http://www.brickboard.com/ARCHIVES/1999MAR/10009226.shtml
http://www.brickboard.com/AWD/index.htm?id=145692
#1 I thought the wheel well rubbing was due to the design of the "early" 850 wheel well liners, but OCICBWAPA. (ofcourseicouldbewrongandprobablyam) I don't know about the other suspension components. Look in your owner's manual and on the sticker inside your gas cap to see if the 55s were factory issue on your car.
-Punxsutawney Phil
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