How Do I Get Paid in a Class Action Settlement?
All Participating Class Members who submit valid and timely Claim Forms as described in the Notice of Class Action Settlement ("Notice") are entitled to receive settlement payments. If you return the Claim Form, but it is defective, you will be mailed a cure letter by the Claims Administrator.
When Can I Expect to Receive My Payment?You should receive a Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you can also find lawsuits through sites such as Consumer Action, ClassAction.org, and Top Class Actions, along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others you may be required you to submit more information to proceed such as documentation proving your purchase, such as a receipt or information that you bought or sold a certain stock during the class period.
The Court will hold a final hearing on a dated provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year.
What Am I Giving Up in Exchange for A Settlement Payment or If I Do Nothing?If the Settlement becomes final, Class Members will be releasing the Defendants and related people and entities from all of the claims asserted in this lawsuit, including monetary relief and injunctive relief, as described in the Settlement Agreement. Unless you exclude yourself from the Settlement Agreement, you cannot sue the Defendant or be part of any other lawsuit against the Defendant about the issues in this case. Unless you exclude yourself, all of the decisions by the Court will bind you. By staying in the Class, you become a Class Member, and you will automatically release the Defendant from any claims as set forth in the Notice, which includes your right to sue the Defendant for injunctive relief beyond the relief that has been agreed to in the Settlement Agreement, or any form of monetary relief other than personal injury claims, and you will give up your rights to pursue or continue any action against the Defendant based on the Released Claims described in the Notice.