[jh_on_the_cape]

Notice of Pendency of Class Action and Proposed Settlement

is the title in the email. Does anyone know anything about this?? Thanks.

It's lengthy, but starts like this

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.

 

[LowCel]

I received the same e-mail. I figure even if it is real I don't have any reason to get any money out of paypal. They have helped me make quite a bit of money on ebay. Without paypal a lot of people would not be buying the more expensive items since they prefer to use a credit card. However, if I would have had problems with them I would jump on in a heartbeat.

 

[alleygrinder]

Notice of Pendency of Class Action and Proposed Settlement

is the title in the email. Does anyone know anything about this?? Thanks.

I got it too. It is Pay Pal making notice of the case and its class-action status in order to meet the statutory requirements for the settlement and/or judgment.

I would bet most people will get a few dollars? Probably only people doing massive business with Pay Pal will get anything substantial.

I once got one from Blockbuster - i think it amounted to 2 dollars and some change...

 

[upNdown]

I'm torn on this sort of thing

I received the same e-mail. I figure even if it is real I don't have any reason to get any money out of paypal. They have helped me make quite a bit of money on ebay. Without paypal a lot of people would not be buying the more expensive items since they prefer to use a credit card. However, if I would have had problems with them I would jump on in a heartbeat.

I'm torn on this sort of thing. Most class action lawsuits are a joke and this one seems to be no different. If I read the email correctly, the settlement was roughly 9 million dollars. $3 million of that goes to the attorneys. That leaves $6 million in the 'pot' be divided up amoungst whomever of us paypal account holder who respond. I feel like you do - that paypal doesn't 'owe' me anything, so why should I file a claim? On the other hand, they've already set aside all the money, so its not like paypal will lose any more, whether I file a claim or not.

Realistically, I'm guessing that if there's $6 million left after the lawers take their $3 million. I bet that about ten million people will file a claim, and everybody will get about 60 cents. What if only a million peopl file a claim? You'll still only get 6 bucks. Is it worth your time? Did you read the part that said they won't mail checks if the total is less than a dollar? That is an indication to me that whomever files a claim will receive less than a buck.

 

[pacman]

Oh really?

Only notices I ever received of suits were in the US mail. I'd bet two cents that this is the first step in a scam. Next step --- supply your account info --- LOL

 

[alleygrinder]

Only notices I ever received of suits were in the US mail. I'd bet two cents that this is the first step in a scam. Next step --- supply your account info --- LOL

Under statute, it does not have to be in the mail. For example, Blockbuster (I think it was blockbuster) was allowed to give notice by inserting a informational flyer in its rentals... using a theory... long and complicated. I believe the recording industry was also allowed to give notice by inserting some sort of note into CDs during a certain period.

You have to use a means that will reasonably notify people who need to be notified. For Pay Pal, as it is an internet business, email is definitely reasonable.

 

[Jive Tolkien]

Looks real.

The last time I used them, PayPal offered no protection whatsoever to me when a seller didn't deliver - they "investigated" the complaint, sent me an email that there was nothing they could do as the seller hadn't responded to their inquiries, and closed the case.

So yes, I'm signing up, f em.

 

[eman]

That is totally legit, its even on paypal's website. There are a few posts about this in downhill and the general forum.