OT: Class Action Settlement Question

[Kitaman]

Has anyone ever received a class action settlement payment?

I must have received over 10 Class Action notices in my lifetime, and have never filled out the form for my entitlement. Not sure why, but I always felt that the amount of payment is so low not to be worth it. Plus the companies that have sent them to me, I am such a small user of their services. I just received Yahoo's Security Breach Settlement and again I have the option to participate in the entitlements (doesn't say how much but something about free credit monitoring). Of course its written by the legal department so the text is in novel form (too long to read). I'm now wondering if my laziness or trepidation is costing me.

Is it worth it?

 

[TheRealKBuks]

Has anyone ever received a class action settlement payment?

I must have received over 10 Class Action notices in my lifetime, and have never filled out the form for my entitlement. Not sure why, but I always felt that the amount of payment is so low not to be worth it. Plus the companies that have sent them to me, I am such a small user of their services. I just received Yahoo's Security Breach Settlement and again they I have the option to participate in the entitlements (doesn't say how much but something about free credit monitoring). Of course its written by the legal department so the text is in novel form (too long to read). I'm now wondering if my laziness or trepidation is costing me.

Is it worth it?

I got one from TD Bank over their Penny Arcade miscounting change. Pretty sure I ended up getting 1 dollar.

 

[NJHusky]

The only winners of class action events are the lawyers that file them. The get the real money. 40% of a 200 M settlement is big money...dividing the remaining 60% by 200k class members...not so much

 

[CCSUblue]

I got $8 once.

 

[ctchamps]

The only winners of class action events are the lawyers that file them. The get the real money. 40% of a 200 M settlement is big money...dividing the remaining 60% by 200k class members...not so much

And then the consumer ends up paying this legal money grab.

 

[HuskyHawk]

The only winners of class action events are the lawyers that file them. The get the real money. 40% of a 200 M settlement is big money...dividing the remaining 60% by 200k class members...not so much

Can confirm. Was at a firm that local counsel for the biggest and worst of them (most of the partners went to prison) back in the 90s.

 

[InTheRed]

Your statement about how much you used the service is the key to me. I throw most away but twice have gotten a few hundred dollars on things that I thought would be worth the effort to fill out whatever forms I needed to. It also generally takes years for these to get to get to the payout point.

 

[uconnbill]

unless you have been hurt financial or physically it is not worth it. Like someone else said the law firms make out great not those who file in a mass lawsuit

 

[Excalibur]

I got a few hundred out of the BarBri antitrust settlement, and I did fill out the Equifax paperwork. Never bothered with any others as there wasn’t much to recover.