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June 15th, 2004, 07:38 PM #1
- Join Date
- January 18th, 2005
It is for 9.2 million only, so everyone will probably get fifty cents. Below is the response from paypal.
Thank you for contacting PayPal. We appreciate the time you have taken to
inquire about the preliminary settlement for the PayPal class action
lawsuit. Please allow us to offer further information.
On June 11th, 2004, PayPal entered into a settlement agreement with a
proposed class of PayPal customers that is being represented by Girard
Gibbs & De Bartolomeo LLP and Wolf Popper LLP. Those firms filed a lawsuit
in 2002 on behalf of a class alleging that PayPal did not appropriately
communicate about customer transactions and did not appropriately process
limits that were placed on some customer accounts. In this agreement,
PayPal does not acknowledge that any of the allegations in the case are
true and entered into the settlement agreement to avoid further costs of
litigation, and to devote resources to more productive areas of our
Most PayPal customers who opened an account between October 1, 1999 and
January 31, 2004 are eligible to participate in the settlement. PayPal
will be sending a notice via email advising eligible customers how to
participate in the class action settlement. This email will be sent in the
July/August timeframe. The email notification will more fully explain the
lawsuit, your legal rights under the settlement, what benefits may be
available to you under the settlement, and how to get them.
If you opened a PayPal account between October 1, 1999 and January 31,
2004, you are a member of the class unless you fit into one of the
following exclusions. Excluded from the class are: any judicial officer to
whom the lawsuit is assigned; any current or former employee, officer, or
director of PayPal; anyone who resides in Austria, Belgium, Denmark,
Germany, Greece, Finland, France, Ireland, Italy, Luxembourg, Portugal,
Spain, Sweden, The Netherlands, or United Kingdom; and all persons who
timely and validly request exclusion from the class.
Please understand that PayPals employees and subsidiaries cannot provide
information or legal advice in relation to the class action lawsuit and
Please watch for further updates regarding the preliminary settlement.
Thank you for contacting PayPal.
The PayPal Team
June 15th, 2004, 07:53 PM #2
Can't wait !
Or was that wait and see?
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