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🌌🔮 The Fate of Unclaimed Settlement Funds...
What happens to leftover payout funds PLUS a Deadline Alert: Verizon Users - Apr 15th!
Class Action Connection
April 11, 2024 • Est. Read Time: 10 minutes
Good afternoon. You’re here, so that means you are taking the future by the horns and now reclaiming money owed from class action settlements. If you remember from previous content, the FTC found only a dismal 9% of eligible people filed their claims... and now you’re thinking to yourself, “what happened to my share BEFORE I started filing my claim?” Stick with us, we’re diving into what happens to settlement money that goes… unclaimed. Let’s dig in.
In Today’s Newsletter:
🔮 Unclaimed settlement funds: What happened before I started filing?
🔊 Buzzer Beater: Verizon Admin Fee’s impending deadline (*cough* Apr-15th).
🏀 Together with The GIST: 4x per week giving you the sports “gist” for free.
🗃️ Case Docket: Settlements ready for you to file: Visa Mastercard, Verizon, Chicken Price Fixing are all live – file now before their gone!
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CLASS ACTION BASICS
🌌🔮 The Fate of Unclaimed Settlement Funds
Gif by netflix on Giphy
Ever wondered what happens to leftover cash in class action settlements? Buckle up, we're diving into the mysterious world of unclaimed funds.
Lost but Not Forgotten
At the end of a class action lawsuit, a settlement fund is typically set up to compensate those harmed by the product or service in question. But what about the dough left over when not everyone comes forward?
Remember the 9% claim rate, well so do attorneys. Because there is usually some unclaimed settlement money, attorneys on both sides of the case may reach an agreement during settlement negotiations regarding who should receive the unclaimed settlement funds at the end of the road.
A Distribution Dilemma
When it comes to unclaimed cash, there are a few paths it can take:
🧑🤝🧑 Split Amongst Known Class Members
Sometimes – if the settlement agreement allows – leftover funds are divvied up among those who did claim their share (pays to file a claim…).
Imagine: a surprise, round-two check in the mail!
🎗️ Donated to Charity
Feeling generous? Unclaimed money might find its way to a charity or non-profit whose mission aligns with the lawsuit's goals. The legal backbone of this strategy comes straight from the trust and estate law playbook, known as "cy pres."
Thank (or blame) the French – "cy pres comme possible" means "as near as possible." It's like a legal compass guiding us to allocate funds as close to the original purpose as possible. Think of it like legal Robin Hood-ing.
😱 Returned to the Defendant
In a worst case scenario (our opinion), if no one's claiming the cash, it can go back to the corporate defendant. Talk about a refund for ‘alleged’ wrongdoing…
Don’t Miss Out
If you've received a notice about a class action lawsuit, pay attention! There's likely a deadline to claim your slice of the settlement pie. Miss it, and your cash could end up in the unclaimed funds pot.
That’s why we’re here – helping you file your claims to make sure your share doesn’t go unclaimed. So check back here every week for updates about new and ongoing cases and settlements and who knows, you might just find a surprise windfall waiting for you from your claim!
Keep reading to check out more settlements you could qualify for!
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BUZZER BEATER
⚠️ Deadline Alert: Verizon Users
Speaking of deadlines – those of you that have (or had) a monthly Verizon Wireless plan between Jan 1, 2016 and Nov 8, 2023, you could be looking at money back!
Why? Because Verizon allegedly charged you a monthly administrative fee or a telecom recovery fee unfairly and without adequate disclosure - bum bum bum…
The deadline to file a claim is: Monday April 15th (i.e., 4 days from now!)
Click the button below to file now! Or check out our settlement page to learn more…
TOGETHER WITH THE GIST
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WHAT ELSE IS GOING ON
🗃️ Case Docket
More cases that could be affecting you! Click on any of these below or check out our website for our full list of open settlements.
ROCKIN’ DOWN THE HIGHWAY (Open and filing claims!)
BUSINESS FILINGS:
💳 Visa & Mastercard ($5.54B) For businesses accepting Visa & Mastercard swipes…
PERSONAL FILINGS:
📵 Verizon Wireless ($100M) Charging customers extra “admin fees” every month?
🍗 Buy Raw Chicken? ($181M) Overcharged by some of the biggest names in the chicken game?
ON OUR RADAR (Coming Soon…)
PERSONAL FILINGS:
🏠️ Real Estate Antitrust ($208.5M) if you sold your house in last decade, this is for you…
🍊 Walmart Weighed Groceries ($45M) Allegedly the scales and prices didn’t match up at Walmart…
🚚 Hino Truck Emissions ($237.5M) Your truck emissions may have been misrepresented…
NOT QUITE RIPE FOR THE PICKIN’ (Not open for claims, yet)
PERSONAL FILINGS:
🛩️ Fly Recently? ($60M-so far…) American, Delta, Southwest and United may have overcharged you for flights over the years...
🔍 Search in Incognito? No longer on the hook for $5B, Google is destroying billions of private browsing records to settle this lawsuit…
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THURSDAY TAKEAWAYS
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–––– 📝 FINE PRINT 🖨 ––––
We’re all trying our best to be smart people and make responsible choices here. Nothing in this newsletter is legal or financial advice and content is created for informational and educational purposes only. If you are looking for legal and/or financial advice, help yourself out and hire a professional. We appreciate you checking out our newsletter and look forward to bringing more exciting (and dollar filled) settlement opportunities to your inbox! 🤞🤞🤞
DISCLAIMER: You do not have to use a third party like CAC and can always file a claim on your own. If you are a settlement class member, you must complete and submit a valid Claim Form in order to receive a payment. You may request a Claim Form by calling the Settlement Administrator or visiting their website for that particular case. Happy filing!
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