-=PCTechTalk=- Re: Is this true of hoax?

I got it too. I believe it is real.
----- Original Message ----- 
From: <MEspenschi@xxxxxxx>
To: <pctechtalk@xxxxxxxxxxxxx>
Sent: Thursday, July 29, 2004 9:41 PM
Subject: -=PCTechTalk=- Is this true of hoax?


> Husband got this and want to know if anyone else got this and if it is
true
> or hoax?
>
>
> IF YOU OPENED A PAYPAL ACCOUNT BETWEEN OCTOBER 1999 AND JANUARY 2004, YOU
MAY
> BE ENTITLED TO A PAYMENT FROM A CLASS ACTION SETTLEMENT.
>
>
> PLEASE READ THIS NOTICE CAREFULLY.
>
>
> UNITED STATES DISTRICT COURT
> NORTHERN DISTRICT OF CALIFORNIA
> SAN JOSE DIVISION
>
> In re PayPal litigation
> Case No. CV-02-01227-JF (PVT)
>
> NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT
>
>
> 1. WHY DID I GET THIS NOTICE?
> You have been sent this Notice because the records of PayPal, Inc.
indicate
> you are a current or former PayPal account holder. This means you may be
> eligible to receive a payment from the proposed class action settlement in
the
> lawsuit In re PayPal Litigation, Case No. 02 1227 JF PVT, pending in the
United
> States District Court for the Northern District of California in San Jose.
This
> Notice provides a summary of the terms of the proposed settlement. It also
> explains the lawsuit, your legal rights under the settlement, what
benefits are
> available to you under the settlement, and how to get them.
>
>
> 2. WHAT IS A CLASS ACTION?
> In a class action, one or more people, called Class Representatives (in
this
> case Roberta Toher and Jeffrey Resnick), sue on behalf of people who have
> similar claims. All of these people are members of the Class. One court
resolves
> the issues for all Class Members, except for those who exclude themselves
from
> the Class. United States District Judge Jeremy Fogel is in charge of this
> class action.
>
>
> 3. WHAT IS THIS LAWSUIT ABOUT?
> In early 2002, Plaintiffs Roberta Toher and Jeffrey Resnick filed separate
> lawsuits against PayPal, Inc. These two cases were later consolidated into
one
> lawsuit in the United States District Court for the Northern District of
> California, San Jose Division, entitled In re PayPal Litigation, Case No.
CV 02
> 01227-JF (PVT). The lawsuit alleges that PayPal violated the federal
Electronic
> Fund Transfer Act ("EFTA"), 15 U.S.C. §§ 1693 et seq., including
provisions
> requiring PayPal to supply customers with information about dispute
resolution
> procedures and to follow certain procedures when investigating complaints
of
> unauthorized or incorrect electronic fund transfers. For example, the
lawsuit
> claims that PayPal did not provide account statements in the manner
required by
> the EFTA. The lawsuit further alleges that PayPal has placed inappropriate
> restrictions or other limits on customers' accounts and engaged in other
improper
> practices. Based on these practices, the lawsuit asserts claims under
> California state law for conversion, money had and received, negligence,
and violations
> of consumer protection statutes.
>
> PayPal does not believe that it did anything wrong. In fact, PayPal
disputes
> that the EFTA, originally passed in 1978, applies to its business. PayPal
> denies any and all liability for the claims alleged in the lawsuit. The
Court did
> not decide in favor of the Plaintiffs or PayPal. Instead, beginning in the
> fall of 2003, the parties began a series of settlement negotiation
sessions
> mediated by United States Magistrate Judge Edward Infante. Eventually, in
November
> 2003, both sides agreed to a settlement in principle. By settling their
> claims, both parties avoided the uncertainty and cost of a trial. The
settlement
> provides money and other benefits to the Class. On June 11, 2004, the
parties
> entered into a formal, written Settlement Agreement, which is on file with
the
> Court and available on the Internet at https://www.paypal.com/settlement/.
By
> entering into the Settlement Agreement, PayPal is not admitting any
wrongdoing.
> PayPal continues to believe that it did not do anything wrong. The
> Representative Plaintiffs and the attorneys appointed by the Court to
represent the Class
> believe that the settlement is fair to Class Members. By this notice, the
> Court is not expressing any view on the merits of the lawsuit.
>
>
> 4. HOW DO I KNOW IF I AM PART OF THE SETTLEMENT?
> On July 12, 2004, Judge Fogel entered an order granting preliminary
approval
> of the settlement and certifying the following class for purposes of the
> settlement: All Persons who opened a PayPal account during the period from
October
> 1, 1999 through January 31, 2004. Excluded from the class are any judicial
> officer to whom the lawsuit is assigned; PayPal and any of its affiliates;
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
pursuant
> to this notice.
>
> Thus, if you opened a PayPal account between October 1, 1999 and January
31,
> 2004, and are not one of the excluded persons listed above, you are a
member
> of the class.
>
>
> 5. WHO REPRESENTS ME IN THIS CASE?
> To represent the class, the Court has appointed Plaintiffs Roberta Toher
and
> Jeffrey Resnick as Representative Plaintiffs and their counsel of record
as
> Class Counsel. The Court has also appointed the following attorneys and
law
> firms as Co-Lead Counsel:
>
>
> A. J. De Bartolomeo
> Girard Gibbs & De Bartolomeo LLP
> 601 California Street, Suite 1400
> San Francisco, California 94108
>
> Robert C. Finkel
> Wolf Popper LLP
> 845 Third Avenue
> New York, New York 10022
>
> 6. WHAT DOES THE SETTLEMENT PROVIDE?
>
> A. Injunctive Relief
> The settlement requires that PayPal consent to the entry of an order,
called
> an injunction, that mandates various changes to PayPal's business
practices.
> PayPal has already implemented these changes. The injunction includes
PayPal's
> agreement to comply with certain notice and error resolution procedures of
the
> EFTA, and to follow certain procedures for limiting accounts and
responding
> to and returning funds to customers whose accounts have been limited. A
copy of
> this injunction can be found as Exhibit D to the Settlement Agreement,
> entitled "Form of Injunctive Order."
>
> B. Monetary Relief
> Under the settlement, PayPal will pay $9.25 million into a settlement
fund,
> to be held in an interest-bearing account. The fund will be used (1) to
make
> payments to class members who submit valid claims before the claims
deadline;
> (2) to pay certain costs of giving notice to the Class and of settlement
> administration, as approved by the Court; and (3) to pay attorneys' fees
and expenses
> to Class Counsel in the amount awarded by the Court. Class Counsel have
> proposed that, after deduction of notice and administrative costs and
Class
> Counsel's attorneys' fees and expenses, the balance of the fund ("Net
Settlement
> Fund") be applied in accordance with a written plan of allocation. (The
following
> explanation is qualified in its entirety by reference to the Plan of
> Allocation attached to the Settlement Agreement as Exhibit C, a copy of
which is on
> file with the Court and available on the Internet at
> https://www.paypal.com/settlement/.)
>
>
> 1. Certain Definitions
> Certain capitalized words are used in this part of the Notice to describe
the
> way in which the Net Settlement Fund will be allocated. These capitalized
> words have the following meanings:
> (a) "Released Persons" means PayPal and its past and present partners,
> affiliates, predecessors, successors, assigns, parents, subsidiaries,
officers,
> directors, attorneys, and employees.
>
> (b) "Fund Claimants" are class members who submit timely, valid claims in
> accordance with the procedures described in this notice.
>
> (c) "Dispute Resolution Claimants" are Fund Claimants who contend that,
prior
> to February 1, 2004, they:
>
> (i) experienced or reported to PayPal an unauthorized or incorrect
electronic
> transfer to or from their PayPal account including, without limitation,
> electronic transfers initiated by (a) the Fund Claimant; (b) PayPal in
connection
> with, among other things, chargebacks, refunds, buyer complaints, PayPal's
> Seller Protection Policy, Buyer Complaint Process and/or Buyer Protection
Policy;
> or (c) any third party;
>
> (ii) had access to their PayPal account improperly, incorrectly or
> erroneously limited or restricted, in whole or in part;
>
> (iii) made a request for information in connection with PayPal's
restriction
> or limitation of the Fund Claimant's PayPal account or regarding an
incorrect
> or unauthorized electronic transfer to which PayPal did not respond at all
or
> did not respond to the Fund Claimant's satisfaction.
> (d) "Statutory Damage Fund Claimants" are all Fund Claimants who are not
> Dispute Resolution Claimants.
>
> 2. Statutory Damage Fund Claimants
> The plan of allocation designates $1 million of the Net Settlement Fund to
a
> "Statutory Damage Fund," to be distributed equally among all Fund
Claimants
> who are not Dispute Resolution Claimants. This means that if you are a
member of
> the Class and do not fall within the definition of a "Dispute Resolution
> Claimant," as set out above, you can make a claim for a payment from the
Statutory
> Damage Fund. The Statutory Damage Fund provides compensation for potential
> statutory damages under the Electronic Fund Transfer Act ("EFTA"), 15
U.S.C. §§
> 1693 et seq. Statutory damages under the EFTA are limited by law to no
more
> than $500,000 for any class of individuals claiming "the same failure to
> comply." Plaintiffs' counsel contended in the litigation and for purposes
of
> settlement that PayPal was potentially liable for multiple failures to
comply, a
> position PayPal vigorously opposed.
>
> The Statutory Damage Fund Claim Form requires you to provide certain
> identifying information and sign a statement under penalty of perjury
authenticating
> your claim, which may be subject to verification by PayPal's records. To
make a
> claim for payment from this fund, please complete and submit the Statutory
> Damage Fund Claim Form available on the Internet at
> https://www.paypal.com/settlement/ in accordance with the instructions on
the form.
>
> 3. Dispute Resolution Claimants
> The balance of the Net Settlement Fund will be allocated for distribution
to
> Dispute Resolution Claimants. If you fall within the definition of a
"Dispute
> Resolution Claimant," as set out above, you have the right to make a
Dispute
> Resolution Claim. You can choose to submit either the Short Claim Form or
the
> Long Claim Form available on the Internet at
> https://www.paypal.com/settlement/. If the Court awards attorneys' fees
and costs in the amount requested, Class
> Counsel estimate that there will be approximately $4.3 million to pay the
> claims of Dispute Resolution Claimants. Half of the money allocated to
Dispute
> Resolution Claimants will be allocated to pay Short Form Claimants (the
"Short
> Form Fund"). The other half will be allocated to pay Long Form Claimants
(the
> "Long Form Fund").
>
> a. Short Form Claimants
> The Short Claim Form requires you to provide certain identifying
information
> and sign a statement under penalty of perjury, which may be verified using
> PayPal's records, that you experienced an unauthorized or incorrect
electronic
> transfer or an account limitation or denial of access to your account. If
you
> make a timely, valid claim using the Short Claim Form, you will receive a
> payment of $50, unless the amount needed to pay all of the Short Form
claims exceeds
> the Short Form Fund. In that case, the Short Form Fund will be divided
> equally among all Short Form Claimants. If the amount needed to pay all of
the Short
> Form claims is less than the amount of the Short Form Fund, the money left
> over will be added to the Long Form Fund.
>
> b. Long Form Claimants
> The Long Claim Form requires you to provide certain identifying
information;
> give the details of the account restriction(s) and/or unauthorized
electronic
> fund transfer(s) you experienced; state the amount of your claim, and sign
a
> statement, under penalty of perjury, which may be subject to verification
by
> PayPal's records, that you actually suffered the claimed damages. You
should
> also provide any documentation you have that will support your claim, as
> explained in more detail on the Long Form.
>
> If you make a timely, valid claim using the Long Claim Form, an
independent,
> court-approved claims administrator will evaluate your claim and determine
the
> amount you should receive. In making this determination, the claims
> administrator will take into account the amount of damages you claim; the
nature of
> your complaint; the quality of the supporting documentation you provide;
your
> recoverable damages; the probability that you would be successful on your
> complaint; and such other factors that the claims administrator considers
relevant.
> If the amount needed to pay all of the Long Form claims is less than the
amount
> of the Long Form Fund, the money left over will be added to the Short Form
> Fund.
>
> c. Balance after payment of Long Form and Short Form Claimants
> If there are sufficient funds to pay all Short Form and Long Form
Claimants
> in full in accordance with the written plan of allocation, any remaining
funds
> will be divided equally among all Dispute Resolution Claimants to
supplement
> their recoveries.
>
> 7. HOW DO I MAKE A CLAIM AND GET A PAYMENT?
> To make a claim for payment, please complete one of the claim forms
> (Statutory Damage Claim Form, Short Claim Form, or Long Claim Form)
available on the
> Internet at https://www.paypal.com/settlement/. To make a valid claim, you
will
> need to (1) fill out the claim form electronically and (2) print the
signature
> page of your claim form, sign it and return it by mail to the address
> provided on the claim form. You must complete the claims procedure no
later than
> October 23, 2004. Your payment will be transferred electronically to your
PayPal
> account. If you do not have a current, unrestricted PayPal account or you
> indicate on the claim form that you prefer to receive a check, payment
will be made
> in the form of a check, sent by first class mail to the address provided
on
> the claim form. If you are paid by check, a $1.00 charge will be deducted
from
> your payment to cover the cost of issuing and mailing the check. The
claims
> administrator will not issue checks for less than $1.00. Such amounts will
> instead be reallocated to those claimants who are entitled to receive
distributions.
>
>
> 8. WHAT AM I GIVING UP IF I PARTICIPATE IN THE SETTLEMENT?
> If you do not exclude yourself from the class and the settlement is
granted
> final approval, the judgment entered upon approval of the settlement will
> dismiss the lawsuit with prejudice, and will release any and all claims,
demands,
> rights, liabilities, and causes of action of every nature and description
> whatsoever, known or unknown, matured or unmatured, at law or in equity,
existing
> under federal or state law, that were or could have been asserted in the
> Litigation against the Released Persons, including without limitation,
claims under
> the Electronic Fund Transfer Act, California Business and Professions Code
§§
> 17200 et seq.; the California Consumers Legal Remedies Act, Cal. Civ. Code
§§
> 1750 et seq.; and for PayPal's alleged conversion, breach of the User
> Agreement or other contract, money had and received, unjust enrichment,
and negligence
> under California law or any other state or federal law arising out of,
among
> other things, PayPal's restriction or limitation of accounts; PayPal's
dispute
> resolution policies, practices and procedures; PayPal's debit of accounts
> following the receipt of chargebacks, buyer complaints, reports of
unauthorized
> access or in connection with its Seller Protection Policy, Buyer Complaint
> Process or Buyer Protection Policy; PayPal's alleged conversion of funds;
and
> PayPal's compliance with the Electronic Fund Transfer Act, 15 U.S.C. §§
1693 et
> seq., or any similar legislation arising under the laws of any state. You
will
> be permanently barred from bringing any such claims that arose prior to
> February 1, 2004. With regard to accounts that were limited prior to
February 1,
> 2004, however, you will not be releasing claims to recover any balance
that
> remained in the account 180 days after the account was initially limited.
>
> In summary, if you do not exclude yourself, you will not be able to sue,
> continue to sue, or be part of another lawsuit against PayPal relating to
the
> legal issues in this case. You will be bound by all proceedings, orders,
and
> judgments entered in connection with the settlement, whether favorable or
> unfavorable, and will be represented by the Representative Plaintiffs and
Class Counsel
> for purposes of the settlement. If you do not exclude yourself from the
> class, and the settlement is granted final approval, your claims against
PayPal and
> its affiliates will be released as described above. If you are a class mem
> ber, you may, if you wish, appear in this lawsuit through your own
attorney at
> your own expense. You need not do so to participate in the settlement,
however.
>
>
> 9. WHAT IF I WANT TO EXCLUDE MYSELF (OPT-OUT) FROM THE SETTLEMENT?
> If you do not want to remain a member of the class and participate in the
> settlement, then you must mail or deliver (email is not considered
adequate),
> such that it is RECEIVED on or before September 7, 2004, (1) an original
written,
> signed request for exclusion to Co-Lead Counsel at the following address:
>
> Co Lead Counsel:
> PayPal Class Action Settlement
> A. J. De Bartolomeo
> Girard Gibbs & De Bartolomeo LLP
> 601 California Street, Suite 1400
> San Francisco, California 94108
> and (2) a copy of the written signed request to PayPal's counsel at the
> following address:
>
> PayPal's counsel:
> PayPal Class Action Settlement
> Morgan Lewis & Bockius LLP
> One Market
> Spear Street Tower
> San Francisco, California 94105
> This request for exclusion must contain your name and address; be signed
by
> you; and include the reference "In re PayPal Litigation, Case No.
CV-02-1227-JF
> (PVT)."
>
> If you exclude yourself from the class, you will not participate in the
> settlement and cannot receive any payment from the settlement. Your claims
will not
> be released.
>
>
> 10. HOW WILL THE LAWYERS FOR THE CLASS BE PAID?
> From the inception of the litigation in early 2002 to the present, Class
> Counsel have not received any payment for their services in prosecuting
the case,
> nor have they been reimbursed for any out-of-pocket expenses. If the Court
> approves the proposed settlement, Class Counsel will make a motion to the
Court
> for an award of attorneys' fees of up to $3,332,500 and reimbursement of
> expenses of up to $135,000, to be paid from the $9.25 million settlement
fund. Class
> Counsel will also seek reimbursement from the settlement fund on behalf of
> certain of the named plaintiffs in the litigation for reimbursement of
their
> expenses related to their service as class representatives in the
litigation, in
> an aggregate amount not to exceed $15,000. The motion will be heard at the
> settlement hearing described below in Section 11.
>
> Class Counsel's motion for an award of attorneys' fees and reimbursement
of
> expenses is based on various factors that include the benefits obtained
for the
> class through litigation. These benefits include the $9.25 million cash
> settlement and PayPal's agreement to the injunctive relief requirements.
In
> addition, certain changes to PayPal's business practices are attributable
in part to
> this litigation, including PayPal's decision to undertake to return to its
> customers approximately $5.1 million in those accounts to which access was
> limited for 180 days or more; modifications to PayPal's arbitration
provision in its
> User Agreement and its replacement with a clause that limits PayPal's
ability
> to compel arbitration where the total amount of the award sought is
$10,000
> or greater; and various other changes in PayPal's business practices
during the
> pendency of the litigation.
>
> Class Counsel submitted their proposed request for attorneys' fees to the
> Magistrate Judge who had previously presided over discovery and settlement
> discussions. Class Counsel's request for attorneys' fees is equal to the
amount
> recommended by the Magistrate Judge.
>
>
> 11. WHEN AND HOW WILL THE COURT DECIDE WHETHER TO APPROVE THE SETTLEMENT?
> The Court will hold a hearing on September 24, 2004, at 9:00 a.m., before
the
> Honorable Jeremy Fogel, United States District Judge, United States
District
> Court for the Northern District of California, Courtroom 3, 5th Floor, 280
> South First Street, San Jose, California 95113. The purpose of the hearing
will
> be to determine (a) whether the proposed settlement should be approved as
fair,
> reasonable, and adequate; (b) whether the application by Class Counsel for
an
> award of attorneys' fees and expenses should be granted; and (c) whether
the
> lawsuit and class members' claims should be dismissed with prejudice
pursuant
> to the settlement. The Court reserves the right to adjourn or continue the
> hearing without further notice to the class.
>
> You may attend the hearing if you wish, but are not required to do so to
> participate in the settlement.
>
> If the settlement is not approved by the Court, the lawsuit will proceed.
If
> there are further actions taken in the case that affect your rights, you
will
> receive notice as determined by the Court.
>
>
> 12. CAN I COMMENT ON THE SETTLEMENT?
> If you decide to remain in the class, and you wish to comment in support
of
> or in opposition to the settlement or Class Counsel's motion for
attorneys'
> fees and expenses, you may do so by mailing or delivering your written
> (non-email) comments, such that they are RECEIVED on or before September
3, 2004, as
> follows: (1) the original must be sent to the Court at the following
address:
>
> Clerk of the Court
> United States District Court for the Northern District of California
> 280 South First Street
> San Jose, California 95113
> and (2) copies must be sent to Co Lead Counsel and PayPal's counsel at the
> addresses listed in Section 9, above.
>
> Your written comments must contain your name and address; be signed by
you;
> and include the reference In re PayPal Litigation, Case No. CV-02-1227-JF
> (PVT). If you wish to appear and present your comments orally at the
hearing, your
> written comments must contain a notice that you intend to appear and be
heard,
> a statement of the position you intend to present at the hearing, and any
> supporting arguments.
>
> If you do not comply with the foregoing procedures and deadlines for
> submitting written comments or appearing at the hearing, you will not be
entitled to
> be heard at the hearing; contest or appeal from approval of the settlement
or
> any award of attorneys' fees or expenses; or contest or appeal from any
other
> orders or judgments of the Court entered in connection with the
settlement.
>
>
> 13. HOW CAN I GET MORE INFORMATION ABOUT THE SETTLEMENT?
> You can get more information by writing Plaintiffs' Co-Lead Counsel
> electronically or by first class mail at:
> paypalsettlement@xxxxxxxxxxxxxxxxxxxxxxxxxxxxx
>
> Girard Gibbs & De Bartolomeo LLP
> 601 California Street, Suite 1400
> San Francisco, California 94108
>
> Wolf Popper LLP
> 845 Third Avenue
> New York, NY 10022
> This notice is a summary and does not describe all details of the
settlement.
> For full details of the matters discussed in this notice, you may wish to
> review the Settlement Agreement dated June 11, 2004 and on file with the
Court or
> visit https://www.paypal.com/settlement/. Complete copies of the
Settlement
> Agreement and all other pleadings and papers filed in the lawsuit are also
> available for inspection and copying during regular business hours, at the
Office
> of the Clerk of the Court, United States District Court for the Northern
> District of California, 280 South First Street, San Jose, California
95113.
>
>
>
> PLEASE DO NOT TELEPHONE THE COURT REGARDING THIS NOTICE.
>
> DATED: July 12, 2004
>
>
>
> BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF
> CALIFORNIA
>
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