On Jul 31, 2004, at 4:27 PM, tim s wrote:

>>
>> Has anybody else gotten the "Notice of Pendency of Class Action and
>> Proposed Settlement" email from PayPal?  I don't speak legalese so I
>> haven't a clue what exactly the details are, but it sounds like good
>> news for all the PayPal haters.

Yeah.  I read it as a reaction to exactly the sorts of complaints
people have made here against paypal (ie freezing accounts without
clear recourse for one un-researched complaint.)

>>
>> So can I get money from this settlement if I've never had any
>> problems with PayPal?
>>
If your account was created in the timeframe listed, I think you can
collect $50 whether you had problems or not.  But it would be WRONG!

As I participate in some 'managed stock funds' (I own a bunch of
stocks, but some manager does all the choosing, buying and selling), I
get "class action resolution" things relatively frequently.  I usually
ignore them, as I've never felt "wronged" in the first place (and
chances are that by the time everything is split with the 'class', it's
not worth my time anyway.)  Russell is right; it's a lousy way to do
business...  (I wonder if the lawyers collect all the unclaimed funds,
though.  Hmm...)

BillW

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