U.S. Currency Conversion Fee Litigation Settlement Approved by Federal Court
Jan 3, 2010, 9:58 am
#16
In memoriam
Join Date: Jan 2006
Posts: 4,020
Often, in this sort of class action, one or more objecting class members file an appeal which may possibly take a couple of years or more to resolve (or not, depending).
You can take a look at the federal courts PACER online system http://pacer.psc.uscourts.gov/faq.html to see what is happening. Costs 8 cents a page to look (you need the case number), but there is no charge if you spend less than $10. And, you can get miles on the charges!
You can take a look at the federal courts PACER online system http://pacer.psc.uscourts.gov/faq.html to see what is happening. Costs 8 cents a page to look (you need the case number), but there is no charge if you spend less than $10. And, you can get miles on the charges!
May 23, 2010, 6:41 pm
#18
In memoriam
Join Date: Jan 2006
Posts: 4,020
Hardly going to encourage lawyers to take on these difficult, costly to bring cases. Without the lawyers, the class members get zip.
May 23, 2010, 10:06 pm
#19
Join Date: Dec 2006
Posts: 226
Some class members opposed the final settlement and filed formal objections. Therefore, those objections need to work their way through the courts. Checks won't be sent out until all of the objections are resolved (and resolved in favor of the settlement agreement).
If just one of the objections is upheld, it could potentially undo the entire settlement agreement (I believe).
If just one of the objections is upheld, it could potentially undo the entire settlement agreement (I believe).
Jun 30, 2010, 12:15 pm
#20
Join Date: Feb 1999
Location: T82
Programs: AA Gold, HH Gold
Posts: 2,845
Just a few more weeks to wait until we find out officially that we don't get anything from all this....
From this website: http://arbitration.ccfsettlement.com/
"IMPORTANT DEADLINES. The deadline for submitting an objection to the settlements is June 11, 2010. The date of the hearing for final approval of the settlements is July 15, 2010 at 11:00 AM at the U.S. District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007-1581. Please note that dates and other materials set forth in the Preliminary Approval Order and the Settlement Agreements (and/or in any of the exhibits) may be changed or revised by the Court. Please check this website or call 1-800-654-4393 for updates."
From this website: http://arbitration.ccfsettlement.com/
"IMPORTANT DEADLINES. The deadline for submitting an objection to the settlements is June 11, 2010. The date of the hearing for final approval of the settlements is July 15, 2010 at 11:00 AM at the U.S. District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007-1581. Please note that dates and other materials set forth in the Preliminary Approval Order and the Settlement Agreements (and/or in any of the exhibits) may be changed or revised by the Court. Please check this website or call 1-800-654-4393 for updates."
Jul 31, 2010, 2:10 am
#22
Join Date: Sep 2006
Location: SJC
Programs: AAdvantage Plat., WorldPerks, HH Gold, SPG Gold
Posts: 298
Wow... This was long time back. I have already moved twice since then. Does anyone know how to report the move to them? On the other hand, I am surprised with some companies capabilities to track you down and always send you notices and mailers e.g. the alumni associations.
Jul 31, 2010, 2:56 am
#23
Join Date: Nov 1999
Location: SFO
Programs: UA 1.050MM, PersonalCar 0.275MM
Posts: 1,718
That's because some alumni associations see you, the alumnus/alumna, as an annuity (i.e., a stream of future dollars), and therefore they find it financially worthwhile to subscribe to various services for proactively updating their mailing lists for change of addresses, including for example various services offered to businesses by the US Postal Service.
Jul 31, 2010, 12:31 pm
#24
Join Date: Dec 2006
Posts: 226
So until these 11 appeals are resolved (and, as they state, in favor of the settlement which was approved by the court), we won't see anything.
Originally Posted by lifeonitsown
Does anyone know how to report the move to them?
See: http://www.ccfsettlement.com/faqs/#idQ35
Aug 3, 2010, 3:58 pm
#25
Join Date: Mar 2010
Posts: 43
Just a few more weeks to wait until we find out officially that we don't get anything from all this....From this website: http://arbitration.ccfsettlement.com/
"IMPORTANT DEADLINES. The deadline for submitting an objection to the settlements is June 11, 2010. The date of the hearing for final approval of the settlements is July 15, 2010 at 11:00 AM at the U.S. District Court for the Southern District of New York, 500 Pearl Street, New York, NY 10007-1581. Please note that dates and other materials set forth in the Preliminary Approval Order and the Settlement Agreements (and/or in any of the exhibits) may be changed or revised by the Court. Please check this website or call 1-800-654-4393 for updates."
Last edited by gomezjan; Aug 10, 2010 at 6:04 pm
Nov 14, 2010, 11:43 am
#26
Join Date: May 1998
Posts: 6,790
It's been six months since the above. Has anyone received a settlement check yet?
Thanks, I'm just concerned that it may have been lost/stolen from the mail. If no one else has received anything either, I'll know it's likely nothing has been sent out yet.
Thanks, I'm just concerned that it may have been lost/stolen from the mail. If no one else has received anything either, I'll know it's likely nothing has been sent out yet.
Nov 14, 2010, 11:46 am
#27
Join Date: Dec 2006
Posts: 226
Have you checked the website? It's pretty clear that they are working through the appeals (11 of them) and that no checks will be released until after the appeals process has been completed.
May 8, 2011, 7:22 am
#28
Join Date: May 1998
Posts: 6,790
Nine of the eleven appeals have been withdrawn or were dismissed. Another appeal was concluded when, on December 16, 2010, following briefing and oral argument, the Court of Appeals entered a summary order against the appellant (i.e., denying the appeal).
One appeal remains pending before the Court of Appeals. Information concerning the status of this remaining appeal will be posted to this website as it becomes available.
One appeal remains pending before the Court of Appeals. Information concerning the status of this remaining appeal will be posted to this website as it becomes available.
Jul 6, 2011, 4:28 am
#29
Join Date: May 1998
Posts: 6,790
Update:
Apparently the last remaining appeal has now been disposed of. As to the checks, the website says:
With more than 10 million claims being submitted, the amount awarded for each claim is likely to be rather low -- I'm reminded of the old joke about a guy who goes to the bank to cash a rather small check and the teller asks, "How would you like it, heads or tails?"
Apparently the last remaining appeal has now been disposed of. As to the checks, the website says:
The issuance of refund checks for valid, timely claims will not commence until after the District Court enters an order authorizing the disbursement of the funds. Participation in this settlement has been extraordinary, with more than 10,000,000 claims submitted. We request that you remain patient as the Settlement Administrator finalizes the procedures necessary to administer and mail this enormous volume of claims.
Nov 14, 2011, 4:21 pm
#30
Join Date: Jan 2005
Location: Seattle, WA
Programs: AC Elite
Posts: 298
Checks are being sent...
Apparently, CCF has started sending out checks last week with the payout being completed by end of year.
10,075,834 claims were received.
7,157,672 claims were for $25. The estimation is that the refund amount for these will be $18.
2,601,683 claims were based on "Option 2" where the average refund will be $35
316,177 are option 3 claims where the average refund will be $268.25.
The settlement fund has a total of $335,692,000 in it. Lawyers are taking 55,089,000 of it, the distributing bank is taking 4,982,000, leaving 275,621,000 for the claimants.
10,075,834 claims were received.
7,157,672 claims were for $25. The estimation is that the refund amount for these will be $18.
2,601,683 claims were based on "Option 2" where the average refund will be $35
316,177 are option 3 claims where the average refund will be $268.25.
The settlement fund has a total of $335,692,000 in it. Lawyers are taking 55,089,000 of it, the distributing bank is taking 4,982,000, leaving 275,621,000 for the claimants.
Last edited by boymimbo; Nov 14, 2011 at 4:34 pm Reason: Update