PayPal Class Action Suit?

[Burt Munro]

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

[KBOlsen]

They sent me an e-mail too... haven't had a chance to look into it yet.

Interesting...

[Lowe119]

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.

[spyderchick]

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.

[StumpysWife]

I manage two paypal accounts (work and personal) and have NOT received this email for either.

Heather

[spyderchick]

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

[spyderchick]

I 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.

[Lowe119]

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

That doesn't look like it's the same case, is it?

[spyderchick]

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.

[KBOlsen]

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!

[Jeff]

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.....

[Lowe119]

I don't think my race business will ever make a profit  ;D 8)