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PICList Thread
'[OT:] PayPal Settlement'
2004\07\31@062913 by Matthew Brush

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Hello all,

Has anybody else gotten the "Notice of Pendency of Class Action and
Proposed Settlement" email from PayPal?  I don't speak legalese so I
haven't a clue what exactly the details are, but it sounds like good
news for all the PayPal haters.

So can I get money from this settlement if I've never had any problems
with PayPal?

Thanks,

MJ Brush

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2004\07\31@072007 by Russell McMahon

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> Has anybody else gotten the "Notice of Pendency of Class Action and
> Proposed Settlement" email from PayPal?

Yes.

> I don't speak legalese so I
> haven't a clue what exactly the details are, but it sounds like good
> news for all the PayPal haters.
>
> So can I get money from this settlement if I've never had any problems
> with PayPal?

Chugging through it a few days ago, it seemed to say that if you joined
between the dates specified then you are eligible unless you are one of what
is probably a limited group of people. So if you joined between the dates
they say you are probably eligible.

However, the max sum payable is AFAIR $US25 unless you can demonstrate that
you were specifically wronged by PP along the lines of the law
suit.  If you claim to be specifically wronged and your claim proves
perjurous you can be shot. Or worse. For all the rest the available money is
divided amongst them. AFAIR there is expected to be about $US4.3M available
for this purpose. If E6 people joined PP in that time you may get $US4 ish.
If less you may get your max. If more, less. When all monies are divvied up
and the lawyers paid then if there's still money left over it will be
divided evenly amongst all involved. I suspect there won't be $ left over
;-)

FWIW - PP say that they don't believe the legislation invoked applies to
them at all AND they don't believe that they did anything wrong even if the
legislation does in fact apply to them BUT they are settling for about $US9M
all up as its the easier cheaper path AND they are changing various business
practices as well coz they are nice guys who have been misunderstood.

You can legally opt out if you want to but to do so must send snail mails to
attorneys of the 1st and 2nd parties. (Writing fluid to be used not
specified). email no go no way joe.

IF you want to sue PayPal yourself by yourself or with others in future over
matters covered by the case then you MUST opt out now. If ya don't your
chance is gone.

Do I get my law degree?

I'm personally tempted to opt out were it not for the snail mail need. Not
coz i want to sue PP myself BUT partly because of Niven's 2nd law. If I may
be excused in quoting him verbatim - "Never stand next to someone who is
throwing shit at an armed man". (His first law involves what you should
never throw yourself and when.) Extremely good advice. I would only modify
it by adding, "unless you have determined the range of potential
consequences and decided that the danger is worth the action." I feel uneasy
about getting embroiled in the great US class action circus just because I
am a customer. I'm pleased if companies are called to account. I would hope
that it would be the role of the government to set and enforce regulations
about the proper handling of people's money by such organisations. I'm sad
that the task is instead delegated to vigilantes, no matter how right they
may or may not be. Mr JG will be appalled at my feelings (again) :-)

       RM

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2004\07\31@072216 by tim s

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i got one also  not sure what it means although
----- Original Message -----
From: "Matthew Brush" <spam_OUTmatthewbrushTakeThisOuTspamYAHOO.CA>
To: <.....PICLISTKILLspamspam@spam@MITVMA.MIT.EDU>
Sent: Saturday, July 31, 2004 6:28 AM
Subject: [OT:] PayPal Settlement


{Quote hidden}

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2004\07\31@170301 by William Chops Westfield

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On Jul 31, 2004, at 4:27 PM, tim s wrote:

>>
>> Has anybody else gotten the "Notice of Pendency of Class Action and
>> Proposed Settlement" email from PayPal?  I don't speak legalese so I
>> haven't a clue what exactly the details are, but it sounds like good
>> news for all the PayPal haters.

Yeah.  I read it as a reaction to exactly the sorts of complaints
people have made here against paypal (ie freezing accounts without
clear recourse for one un-researched complaint.)

>>
>> So can I get money from this settlement if I've never had any
>> problems with PayPal?
>>
If your account was created in the timeframe listed, I think you can
collect $50 whether you had problems or not.  But it would be WRONG!

As I participate in some 'managed stock funds' (I own a bunch of
stocks, but some manager does all the choosing, buying and selling), I
get "class action resolution" things relatively frequently.  I usually
ignore them, as I've never felt "wronged" in the first place (and
chances are that by the time everything is split with the 'class', it's
not worth my time anyway.)  Russell is right; it's a lousy way to do
business...  (I wonder if the lawyers collect all the unclaimed funds,
though.  Hmm...)

BillW

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2004\07\31@235014 by techy fellow

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Got one too. I think in order get 'compensation', one must complete a form (either long or short) at the paypal.com. The short one is for you to indicate what you have sufferred financially while the long form is for you to indicate consequences losses due to paypal's fault. This is what I think.

tim s <stm800spamKILLspamCITY-NET.COM> wrote:i got one also not sure what it means although
{Original Message removed}


'[OT:] PayPal Settlement'
2004\08\01@113302 by Howard Winter
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Russell,

On Sat, 31 Jul 2004 23:19:18 +1200, Russell McMahon wrote:

> If less you may get your max. If more, less.

Are you sure you're feeling all right?  :-)

> Do I get my law degree?

No, but you get an early-morning call by a hit squad from the Plain English Society!  :-)))

Cheers,


Howard Winter
St.Albans, England

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