Anyone else get a notification that they may be a party to a PayPal Class Action settlement? This is the first I've heard of it and supposedly it's ready for settlement.
Here is a link to the info: https://www.paypal.com/settlement/
I haven't been able to get thru on the link yet (me and a million other people!)
Just curious if anyone has a clear view of what this is about. From what I've read so far it looks like it stems from a claim that PayPal failed to meet criteria set up in 1978 regarding Federal statutes on the transfer of funds.
I've never had any problems with PayPal and consider it a great way to pay for items long distance.
Anybody have more details?
Rick
They sent me an e-mail too... haven't had a chance to look into it yet.
Interesting...
The paypal settlement page redirected me to http://www.settlement4onlinepayments.com/ and it took awhile to load. This seems weird to me :-/
I'm thinking that page is getting hit hard today.
I was thinking about this the other day. I kept wondering whether paypal is a "bank account" and if so, what bank owns the site. I'm going to check into this more now that you all have posted the links.
I manage two paypal accounts (work and personal) and have NOT received this email for either.
Heather
was checking to see if this was for real. Here's a news link. C/net is a trusted tech source for news.http://news.com.com/2100-1017-842240.html
QuoteI manage two paypal accounts (work and personal) and have NOT received this email for either.
Heather
Heather, I'm assuming your accounts have never been locked and perhaps this is why you didn't receive notice. I'm a recent paypal user, so I'll assume that's why I didn't get a notice.
The Weblink for the settlemant is slow and many of the links don't load. Their server must be getting slammed.
Basically, this is a lawsuit that claims that paypal locked accounts for "Fraud" (real or imagined)purposes, and so there were many angry customers.
If anyone can get through on the weblink and give us more info, that would be great.
Quotewas checking to see if this was for real. Here's a news link. C/net is a trusted tech source for news.http://news.com.com/2100-1017-842240.html
That doesn't look like it's the same case, is it?
It's hard to say since the links are all jammed up. I wanted to read the PDF and it wouldn't load. Strange.
That was the only legitimate news link I could find.
Since it can take years for a class action suit to be settled, it could be the same case run through the appeals process.
Interesting...
My paypal accounts have never been locked tho...
This'll probably end up like the CD class action suit... think the settlement was something like $13.00. LOL!
It just amazes me how so many HUGE companies can operate forever without posting a profit (amazon.com is probably the most popular), yet the IRS expects me to post profit after 3 years or I can't write off racing until I dream up another business to fail.....
I don't think my race business will ever make a profit ;D 8)
then you better go out of business after 3 years, 4 max, unless you're really fond of audits...
From the claim site....more lawyers getting rich.... :(
USE THIS FORM TO MAKE A
SHORT FORM CLAIM
You can make a Short Form Claim if, prior to February 1, 2004, PayPal caused you to lose money because of any of the following:
You experienced an unauthorized or incorrect electronic transfer to or from your PayPal account;
Your PayPal account was improperly restricted or access was improperly limited;
You requested information from PayPal about an account restriction or limitation or unauthorized transfer and you did not receive a satisfactory response; and/or
You experienced or reported an unsatisfactory result from a dispute with PayPal involving a chargeback, a refund, a buyer complaint, or PayPal's Seller Protection Policy, Buyer Complaint Process and/or Buyer Protection Policy.
If you make a timely, valid claim using the Short Form Claim, you will receive a payment of $50. In the event that the amount needed to pay all of the Short Form claims exceeds the Short Form Fund, the fund will be divided equally among all the Short Form Claimants.
To make a Short Form Claim, you must (1) complete this Form, (2) print the Certification page, and (3) sign and mail the signed Certification, postmarked no later than November 1, 2004, to:
Claims Administrator
In re PayPal Litigation
PO Box 9000 #6248
Merrick, NY 11566-9000
To return to the home page, click here.
Short Form Claim Form
General Information
Current Name:
Current Address:
City:
State:
Zip:
Current Email Address:
Current Telephone Number: (Area Code-123-1234)
Information Associated With Your PayPal Account
(please fill in any fields below if different from your current information)
Name:
Street Address:
City:
State:
Zip Code:
Email Address:
Telephone Number: (Area Code-123-1234)
Date PayPal account opened (approximate): (mm/dd/yyyy)
Payment will be made to your PayPal account. If you do not have a current, unrestricted PayPal account or prefer to receive a check, please check the box below. (For more information, please refer to Section 7 of the Notice of Pendency of Class Action and Proposed Settlement).
Send my payment by check (I understand a $1.00 charge will be deducted to cover the cost of issuing and mailing my check):
CERTIFICATION
One or more of the following accurately describes what happened to me: PayPal caused me to suffer damages as a direct result of (a) an unauthorized or incorrect electronic fund transfer to or from my PayPal account; (b) an improper restriction or limitation of my PayPal account; (c) an unsatisfactory response to a request for information from PayPal about an unauthorized or incorrect transfer or improper limitation or restriction; and/or (d) a dispute with PayPal involving a chargeback, a refund, a buyer complaint, or PayPal's Seller Protection Policy, Buyer Complaint Process and/or Buyer Protection Policy; and
I wish to submit a Short Form Claim as a Dispute Resolution Claimant.