How To Claim Your Money From The Paypal Class Action Settlement

[jeffrey]

Paypal recently sent out an email about their settlement for a class action lawsuit. (read the email) Two PayPal users, Roberta Toher and Jeffrey Resnick, filed two seperate lawsuits against paypal that were combined into one class action suit. It is this suit that has been settled. So of course, the question on everyon's mind is "How do I get my share of the money?"

The settlement says that anyone who opened an account between Oct 1, 1999 and Jan 1, 2004 is elegible to participate in the settlement. According to the PayPal Litigation Settlement Website, online claim forms must be completed by October 23, 2004 in order to qualify for payment. The short form will get you $50 while the long form will pay the amount you can document in damages if you believe your account suffered lost money for the reasons listed. Even if your account didn't suffer any losses, you can still make a claim with the STATUTORY DAMAGE FUND CLAIM where $1 million will be divided equally among all persons submitting valid claim.

You can either fill out the Short Form which states:

You can make a Short Form Claim if, prior to February 1, 2004, PayPal caused you to lose money because of any of the following:

*You experienced an unauthorized or incorrect electronic transfer to or from your PayPal account;

*Your PayPal account was improperly restricted or access was improperly limited;

*You requested information from PayPal about an account restriction or limitation or unauthorized transfer and you did not receive a satisfactory response; and/or

*You experienced or reported an unsatisfactory result from a dispute with PayPal involving a chargeback, a refund, a buyer complaint, or PayPal’s Seller Protection Policy, Buyer Complaint Process and/or Buyer Protection Policy.

If you make a timely, valid claim using the Short Form Claim, you will receive a payment of $50. In the event that the amount needed to pay all of the Short Form claims exceeds the Short Form Fund, the fund will be divided equally among all the Short Form Claimants.

To make a Short Form Claim, you must (1) complete this Form, (2) print the Certification page, and (3) sign and mail the signed Certification, postmarked no later than November 1, 2004, to:

Claims Administrator
In re PayPal Litigation
PO Box 9000 #6248
Merrick, NY 11566-9000


Or you can fill out the Long Form wich states:

You can make a Long Form Claim if, prior to February 1, 2004, PayPal caused you to lose money because of any of the following:
You experienced an unauthorized or incorrect electronic transfer to or from your PayPal account;

Your PayPal account was improperly restricted or access was improperly limited;

You requested information from PayPal about an account restriction or limitation or unauthorized transfer and you did not receive a satisfactory response; and/or

You experienced or reported an unsatisfactory result from a dispute with PayPal involving a chargeback, a refund, a buyer complaint, or PayPal’s Seller Protection Policy, Buyer Complaint Process and/or Buyer Protection Policy.

To make a Long Form Claim, you must (1) complete this Form, (2) print the Certification page (Section D), and (3) sign and mail the signed Certification, along with any documentation supporting your claim, postmarked no later than November 1, 2004, to:

Claims Administrator
In re PayPal Litigation
PO Box 9000 #6248
Merrick, NY 11566-9000

Here is the Frequently Asked Questions Page

[jeffrey]

For those who may be visiting here for the first time or wondering if this is real, I did send an email to spoof@paypal.com to confirm that it is legitimate:

Dear Jeffrey Strain,

Thank you for contacting PayPal.

Thank you for bringing the "Notice of Pendency of Class Action and Proposed
Settlement email to our attention. We can confirm that PayPal sent this
email. We apologize for any confusion this may have caused.

On June 11th, 2004 PayPal entered into a Settlement Agreement with Girard
Gibbs & De Bartolomeo LLP and Wolf Popper LLP for a lawsuit filed 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 business

PayPal's employees and subsidiaries can not provide information or legal
advice in relation to the class action lawsuit and proposed settlement. You
may seek additional information about the settlement from the attorneys for
the class. They can be reached via email or by first class mail at:

paypalsettlement@settlement4onlinepayments.com

Girard Gibbs & De Bartolomeo LLP
601 California Street, Suite 1400
San Francisco, California 94108

Wolf Popper LLP
845 Third Avenue
New York, NY 10022

Additionally, you can obtain more information at
http://www.settlement4onlinepayments.com.

If you have any further questions regarding your account, please log in to
your PayPal account and click on Help (located on the upper right side)
Contact Us Help by Email Contact Customer Service.

Sincerely,

PayPal Account Review Department
PayPal