Posted on 07/28/2004 5:18:37 PM PDT by steplock
California Edwards Clone Shyster Lawyer Scum Blackmail PayPal for $3.3 MILLION!!!
If you suffered a loss, you get $50 - and they wonder why lawyers are considered the lowest form of scum?
IF YOU OPENED A PAYPAL ACCOUNT BETWEEN OCTOBER 1999 AND JANUARY 2004, YOU MAY BE ENTITLED TO A PAYMENT FROM A CLASS ACTION SETTLEMENT.
PLEASE READ THIS NOTICE CAREFULLY.
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA
SAN JOSE DIVISION
In re PayPal litigation
Case No. CV-02-01227-JF (PVT)
NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT
1. WHY DID I GET THIS NOTICE?
You have been sent this Notice because the records of PayPal, Inc. indicate you are a current or former PayPal account holder. This means you may be eligible to receive a payment from the proposed class action settlement in the lawsuit In re PayPal Litigation, Case No. 02 1227 JF PVT, pending in the United States District Court for the Northern District of California in San Jose. This Notice provides a summary of the terms of the proposed settlement. It also explains the lawsuit, your legal rights under the settlement, what benefits are available to you under the settlement, and how to get them.
2. WHAT IS A CLASS ACTION?
In a class action, one or more people, called Class Representatives (in this case Roberta Toher and Jeffrey Resnick), sue on behalf of people who have similar claims. All of these people are members of the Class. One court resolves the issues for all Class Members, except for those who exclude themselves from the Class. United States District Judge Jeremy Fogel is in charge of this class action.
3. WHAT IS THIS LAWSUIT ABOUT?
In early 2002, Plaintiffs Roberta Toher and Jeffrey Resnick filed separate lawsuits against PayPal, Inc. These two cases were later consolidated into one lawsuit in the United States District Court for the Northern District of California, San Jose Division, entitled In re PayPal Litigation, Case No. CV 02 01227-JF (PVT). The lawsuit alleges that PayPal violated the federal Electronic Fund Transfer Act ("EFTA"), 15 U.S.C. §§ 1693 et seq., including provisions requiring PayPal to supply customers with information about dispute resolution procedures and to follow certain procedures when investigating complaints of unauthorized or incorrect electronic fund transfers. For example, the lawsuit claims that PayPal did not provide account statements in the manner required by the EFTA. The lawsuit further alleges that PayPal has placed inappropriate restrictions or other limits on customers' accounts and engaged in other improper practices. Based on these practices, the lawsuit asserts claims under California state law for conversion, money had and received, negligence, and violations of consumer protection statutes.
PayPal does not believe that it did anything wrong. In fact, PayPal disputes that the EFTA, originally passed in 1978, applies to its business. PayPal denies any and all liability for the claims alleged in the lawsuit. The Court did not decide in favor of the Plaintiffs or PayPal. Instead, beginning in the fall of 2003, the parties began a series of settlement negotiation sessions mediated by United States Magistrate Judge Edward Infante. Eventually, in November 2003, both sides agreed to a settlement in principle. By settling their claims, both parties avoided the uncertainty and cost of a trial. The settlement provides money and other benefits to the Class. On June 11, 2004, the parties entered into a formal, written Settlement Agreement, which is on file with the Court and available on the Internet at https://www.paypal.com/settlement/. By entering into the Settlement Agreement, PayPal is not admitting any wrongdoing. PayPal continues to believe that it did not do anything wrong. The Representative Plaintiffs and the attorneys appointed by the Court to represent the Class believe that the settlement is fair to Class Members. By this notice, the Court is not expressing any view on the merits of the lawsuit.
4. HOW DO I KNOW IF I AM PART OF THE SETTLEMENT?
On July 12, 2004, Judge Fogel entered an order granting preliminary approval of the settlement and certifying the following class for purposes of the settlement: All Persons who opened a PayPal account during the period from October 1, 1999 through January 31, 2004. Excluded from the class are any judicial officer to whom the lawsuit is assigned; PayPal and any of its affiliates; any current or former employee, officer, or director of PayPal; anyone who resides in Austria, Belgium, Denmark, Germany, Greece, Finland, France, Ireland, Italy, Luxembourg, Portugal, Spain, Sweden, The Netherlands, or United Kingdom; and all persons who timely and validly request exclusion from the class pursuant to this notice.
Thus, if you opened a PayPal account between October 1, 1999 and January 31, 2004, and are not one of the excluded persons listed above, you are a member of the class.
5. WHO REPRESENTS ME IN THIS CASE?
To represent the class, the Court has appointed Plaintiffs Roberta Toher and Jeffrey Resnick as Representative Plaintiffs and their counsel of record as Class Counsel. The Court has also appointed the following attorneys and law firms as Co-Lead Counsel:
A. J. De Bartolomeo
Girard Gibbs & De Bartolomeo LLP
601 California Street, Suite 1400
San Francisco, California 94108
Robert C. Finkel
Wolf Popper LLP
845 Third Avenue
New York, New York 10022
A. Injunctive Relief
1. Certain Definitions
Certain capitalized words are used in this part of the Notice to describe the way in which the Net Settlement Fund will be allocated. These capitalized words have the following meanings:(a) "Released Persons" means PayPal and its past and present partners, affiliates, predecessors, successors, assigns, parents, subsidiaries, officers, directors, attorneys, and employees.
(b) "Fund Claimants" are class members who submit timely, valid claims in accordance with the procedures described in this notice.
(c) "Dispute Resolution Claimants" are Fund Claimants who contend that, prior to February 1, 2004, they:
(i) experienced or reported to PayPal an unauthorized or incorrect electronic transfer to or from their PayPal account including, without limitation, electronic transfers initiated by (a) the Fund Claimant; (b) PayPal in connection with, among other things, chargebacks, refunds, buyer complaints, PayPal's Seller Protection Policy, Buyer Complaint Process and/or Buyer Protection Policy; or (c) any third party;(d) "Statutory Damage Fund Claimants" are all Fund Claimants who are not Dispute Resolution Claimants.
(ii) had access to their PayPal account improperly, incorrectly or erroneously limited or restricted, in whole or in part;
(iii) made a request for information in connection with PayPal's restriction or limitation of the Fund Claimant's PayPal account or regarding an incorrect or unauthorized electronic transfer to which PayPal did not respond at all or did not respond to the Fund Claimant's satisfaction.
2. Statutory Damage Fund Claimants
The plan of allocation designates $1 million of the Net Settlement Fund to a "Statutory Damage Fund," to be distributed equally among all Fund Claimants who are not Dispute Resolution Claimants. This means that if you are a member of the Class and do not fall within the definition of a "Dispute Resolution Claimant," as set out above, you can make a claim for a payment from the Statutory Damage Fund. The Statutory Damage Fund provides compensation for potential statutory damages under the Electronic Fund Transfer Act ("EFTA"), 15 U.S.C. §§ 1693 et seq. Statutory damages under the EFTA are limited by law to no more than $500,000 for any class of individuals claiming "the same failure to comply." Plaintiffs' counsel contended in the litigation and for purposes of settlement that PayPal was potentially liable for multiple failures to comply, a position PayPal vigorously opposed.
The Statutory Damage Fund Claim Form requires you to provide certain identifying information and sign a statement under penalty of perjury authenticating your claim, which may be subject to verification by PayPal's records. To make a claim for payment from this fund, please complete and submit the Statutory Damage Fund Claim Form available on the Internet at https://www.paypal.com/settlement/ in accordance with the instructions on the form.
3. Dispute Resolution Claimants
The balance of the Net Settlement Fund will be allocated for distribution to Dispute Resolution Claimants. If you fall within the definition of a "Dispute Resolution Claimant," as set out above, you have the right to make a Dispute Resolution Claim. You can choose to submit either the Short Claim Form or the Long Claim Form available on the Internet at https://www.paypal.com/settlement/. If the Court awards attorneys' fees and costs in the amount requested, Class Counsel estimate that there will be approximately $4.3 million to pay the claims of Dispute Resolution Claimants. Half of the money allocated to Dispute Resolution Claimants will be allocated to pay Short Form Claimants (the "Short Form Fund"). The other half will be allocated to pay Long Form Claimants (the "Long Form Fund").
a. Short Form Claimants
The Short Claim Form requires you to provide certain identifying information and sign a statement under penalty of perjury, which may be verified using PayPal's records, that you experienced an unauthorized or incorrect electronic transfer or an account limitation or denial of access to your account. If you make a timely, valid claim using the Short Claim Form, you will receive a payment of $50, unless the amount needed to pay all of the Short Form claims exceeds the Short Form Fund. In that case, the Short Form Fund will be divided equally among all Short Form Claimants. If the amount needed to pay all of the Short Form claims is less than the amount of the Short Form Fund, the money left over will be added to the Long Form Fund.
b. Long Form Claimants
The Long Claim Form requires you to provide certain identifying information; give the details of the account restriction(s) and/or unauthorized electronic fund transfer(s) you experienced; state the amount of your claim, and sign a statement, under penalty of perjury, which may be subject to verification by PayPal's records, that you actually suffered the claimed damages. You should also provide any documentation you have that will support your claim, as explained in more detail on the Long Form.
If you make a timely, valid claim using the Long Claim Form, an independent, court-approved claims administrator will evaluate your claim and determine the amount you should receive. In making this determination, the claims administrator will take into account the amount of damages you claim; the nature of your complaint; the quality of the supporting documentation you provide; your recoverable damages; the probability that you would be successful on your complaint; and such other factors that the claims administrator considers relevant. If the amount needed to pay all of the Long Form claims is less than the amount of the Long Form Fund, the money left over will be added to the Short Form Fund.
c. Balance after payment of Long Form and Short Form Claimants
If there are sufficient funds to pay all Short Form and Long Form Claimants in full in accordance with the written plan of allocation, any remaining funds will be divided equally among all Dispute Resolution Claimants to supplement their recoveries.
Co Lead Counsel:and (2) a copy of the written signed request to PayPal's counsel at the following address:
PayPal Class Action Settlement
A. J. De Bartolomeo
Girard Gibbs & De Bartolomeo LLP
601 California Street, Suite 1400
San Francisco, California 94108
PayPal's counsel:This request for exclusion must contain your name and address; be signed by you; and include the reference "In re PayPal Litigation, Case No. CV-02-1227-JF (PVT)."
PayPal Class Action Settlement
Morgan Lewis & Bockius LLP
One Market
Spear Street Tower
San Francisco, California 94105
Clerk of the Courtand (2) copies must be sent to Co Lead Counsel and PayPal's counsel at the addresses listed in Section 9, above.
United States District Court for the Northern District of California
280 South First Street
San Jose, California 95113
paypalsettlement@settlement4onlinepayments.comThis notice is a summary and does not describe all details of the settlement. For full details of the matters discussed in this notice, you may wish to review the Settlement Agreement dated June 11, 2004 and on file with the Court or visit https://www.paypal.com/settlement/. Complete copies of the Settlement Agreement and all other pleadings and papers filed in the lawsuit are also available for inspection and copying during regular business hours, at the Office of the Clerk of the Court, United States District Court for the Northern District of California, 280 South First Street, San Jose, California 95113.
Girard Gibbs & De Bartolomeo LLP
601 California Street, Suite 1400
San Francisco, California 94108
Wolf Popper LLP
845 Third Avenue
New York, NY 10022
The Total payout is $9.25 million of which the lawyer scum cash-in with over 1/3 of it at $3.3 MILLION!
And you wonder WHY American companies are moving overseas?
Thank You - john edwards and john kerry!
I received one of these email notifications. I will not seek to join the suits. I don't want to encourage bottom-feeders like John Edwards.
I wonder why I didn't get one. I joined in November 2003.
I got this email today also & promptly deleted it.
I hate class action lawsuits.
Click on the link in the article to get the form - it must be downloaded, printed, signed and mailed back.
If you do NOT want to participate, I would really suggest that you contact PayPal and see if they have DONATE BACK! link. The money will go to the lawyers anyway.
Oh, I'm not going to take the money. Nothing PayPal did harmed me in any way. I'm just wondering why I didn't get the email.
bump
I think that no class action lawsuit should be allowed to proceed unless the actual class members "plaintiffs" stand to gain at least $5000 each in damages.
A law like that would really eliminate a lot of this nonsense. I have been told I am a class member in plenty of class action lawsuits where my remuneration ended up being something like 25 cents in coupons, while the lawyers walk away with millions in legal fees.
I didn't get an item once. PayPal paid me $2.50 and I just assumed the person was a dirtbag. I got this note in my email but I hate class action suits.
I also got the email. Have never had a problem with Paypal and have actually liked using it. See no reason to be part of this lawsuit.
So the people who file a claim get fifty bucks a piece, and the lawyers get a few million dollars. Nice.
Yeah, I noticed that. Are lawyers not permitted to charge contingency-style loaded fees on class action suits? Time to register a protest with the court.
If you opt out of the settlement, hire your own lawyer, and go after them yourself, what is the problem? Nobody said you had to take the $50. But what are your damages?
In the last month, I have received at least 10 different mass class action lawsuits mostly dealing with pharmaceutical stocks - the speculation type for new drugs (they are gambles) but lawyers are making Hundreds of Millions of Dollars suing the research firms out of business! I haven't turned in any hoping that the companies can keep some of their money for more research!
I don't know if that helps anything or not.
You said, "that no class action lawsuit should be allowed to proceed unless the actual class members "plaintiffs" stand to gain at least $5000 each in damages."
I hope you meant that they actually suffered "damage" due to some intentional scam - and not normal market ups/downs or like in my case, failed gambles.
I just received my Halliburton lawsuit papers today - I glanced at them and saw a VERY large blackmail amount to the lawyers ----
Halliburton has NEVER done anything against me - nor have I lost money with their stocks - but according to these shyster scumbags, I DESERVE compensation - just like WELFARE!
PayPal is anti-2A - as they have a right to be. I have a right to enjoy this defeat for them just as I eagerly anticipate Ahh, Oh helL's come-uppance.
I heard of one case where the company basically called for the tort lawyers to sue it. Think of the potential to buy off the lawyers and shaft the people who might have good cases but not realize it yet.
PayPal is anti-2A ???
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