Previous Thread
Next Thread
Print Thread
Rate Thread
Joined: Dec 2002
Posts: 3,255
Likes: 3
UGN Elite
OP Offline
UGN Elite
Joined: Dec 2002
Posts: 3,255
Likes: 3
PayPal sent a long email to its US customers this week with details about how to get a piece of the $9.25m settlement fund the lawyers have created. It is possible to get a chunk of it even if you have no specific complaint related to the lawsuit.

PayPal sent the notice to anyone who opened an account in the US between October 1, 1999 and January 31, 2004. They will also publish the notice in three media outlets: USA Today and Newsweek and People magazines.

The lawsuit, filed by attorneys at Jacoby & Meyers law firm shortly after PayPal's IPO on February 14, 2002, claims that PayPal illegally restricted customers' access to the funds in their accounts and did not provide proper account statements, both in violation of the Electronic Fund Transfer Act (EFTA).

PayPal claims that EFTA rules do not apply to its business.

Throughout the notice, PayPal repeatedly denies any wrongdoing in the case, clearly stating that the creation of this settlement fund in no way should be taken as an admission of guilt. In fact, the court did not reach a verdict in the case, but simply sent it to mediation, where the parties agreed to settle out of court.

Account holders must have opened a PayPal account between October 1, 1999 and January 31, 2004. They may not reside in the following countries: Austria, Belgium, Denmark, Germany, Greece, Finland, France, Ireland, Italy, Luxembourg, Portugal, Spain, Sweden, The Netherlands, or United Kingdom. And of course, they must not be employees or former employees of PayPal.

There are two types of claims to be filed in the settlement. Dispute Resolution Claimants are those who believe that before February 1, 2004 they had access to their account improperly restricted as the result of an unauthorized or incorrect funds transfer. These claimants can file a short form to receive a flat payment of $50, or a long form, which will be evaluated by a claims administrator in order to determine payment.

Statutory Damage Fund Claimants don't have to have had a complaint related to the lawsuit. They simply need to fill out an online form with account and identification information, releasing PayPal from future liability in the lawsuit or future, similar complaints. Statutory Damage Fund Claimants will share in a $1 million chunk of the total fund, and the proceeds will be divided among all who file claims.

More information about the settlement, including online claim forms, can be found here.

Source

Joined: Oct 2003
Posts: 1,449
UGN Elite Poster
Offline
UGN Elite Poster
Joined: Oct 2003
Posts: 1,449
i got that e-mail he he he he he he

Joined: Oct 2003
Posts: 209
Member
Offline
Member
Joined: Oct 2003
Posts: 209
Booya! Already signed up for it yesterday laugh


Those who say do not know.
Those who know do not say.

Link Copied to Clipboard
Member Spotlight
Posts: 30
Joined: June 2002
Forum Statistics
Forums41
Topics33,840
Posts68,858
Average Daily Posts1
Members2,176
Most Online3,253
Jan 13th, 2020
Latest Postings
Where and how do you torrent?
by danni75 - 03/01/24 05:58 AM
Animation,
by JohanKaariainen - 08/15/19 01:18 AM
Blackbeard.....
by Gremelin - 10/03/18 07:02 PM
my old account still exists!
by Crime - 08/10/18 02:47 PM
Okay WTF?
by HenryMiring - 09/27/17 01:45 AM
The History Thread...
by Gremelin - 08/11/17 12:11 PM
My friend NEEDS your HELP!
by Lena01 - 07/21/17 12:06 AM
I'm having fun with this guy.
by gabithompson730 - 07/20/17 01:50 AM
I want to upgrade my phone
by gabithompson730 - 07/20/17 01:49 AM
Doom 3
by Cyrez - 09/11/14 08:58 PM
Amazon Gift Card Generator/KeyGen?te
by Gecko666 - 08/22/14 09:21 AM
AIM scene 99-03
by lavos - 09/02/13 08:06 AM
Planetside 2
by Crime - 03/04/13 07:10 AM
Beta Testers Wanted
by Crime - 03/04/13 06:55 AM
Hello Everyone
by Gremelin - 02/12/12 06:01 PM
Tracfone ESN Generator
by Zanvin Green - 01/18/12 01:31 PM
Python 3 issue
by Testing - 12/17/11 09:28 PM
tracfone airtime
by Drache86 - 07/30/11 03:37 AM
Backdoors and the Infinite
by ZeroCoolStar - 07/10/11 03:52 AM
HackThisZIne #12 Releaseed!
by Pipat2 - 04/28/11 09:20 PM
gang wars? l33t-wars?
by Gremelin - 04/28/11 05:56 AM
Consolidate Forums
by diggin2deep - 04/21/11 10:02 AM
LAN Hacking Noob
by Gremelin - 03/12/11 12:42 AM
Top Posters
UGN Security 41,392
Gremelin 7,203
§intå× 3,255
SilentRage 1,273
Ice 1,146
pergesu 1,136
Infinite 1,041
jonconley 955
Girlie 908
unreal 860
Top Likes Received
Ghost 2
Crime 1
Ice 1
Dartur 1
Cyrez 1
Powered by UBB.threads™ PHP Forum Software 7.7.5