|Fri Aug 29 2008 17:48:14|
Emails Sent in PayPal Class-Action Lawsuit
By: Ina Steiner
Garden City Group sent an email to certain PayPal users today about a settlement in a class action lawsuit against PayPal filed in 2005. The parties reached a preliminary settlement agreement in 2006 regarding allegations that PayPal did not clearly communicate information about its consumer protection programs related to specific types of transactions. According to PayPal's press release issued at the time, it agreed to pay a settlement fund of $3.5 million, less administrative costs and any amount awarded to plaintiffs' counsel by the court. Under the terms of the settlement agreements, PayPal did not admit any liability for any of the allegations in the case.
The person at Garden City Group in a position to confirm the email and website did not return my phone call. However, PayPal spokesperson Sara Gorman confirmed Garden City Group was scheduled to send emails beginning today, and that those looking for more information could visit the settlement website at http://www.steelesettlement.com.
According to information on that website, here are the important dates members of the class should note:
October 31, 2008 Request for Exclusion Deadline (received)
October 31, 2008 Objection Filing Deadline
November 17, 2008 at 10:00 a.m. Fairness Hearing
December 14, 2008 Claim Form Deadline (postmarked)
Note: the old rule still applies: Don't click on links in emails to sign in or submit personal information as scammers could spoof the site.