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PayPal Settles Class Action Lawsuit
ephidryn writes "I just received a notice from paypal which indicates that I may be involved in a class action lawsuit against paypal. Apparently two PayPal users, Roberta Toher and Jeffrey Resnick, filed two seperate lawsuits that were later combined into one class action suit. ZDNet has a story that notes: "PayPal said it would pay a total of $9.25 million to settle the federal class-action suit..."
I'm so ready to receive my check for $0.35US" kai5263499 adds "The settlement states that anyone who opened an account between Oct 1, 1999 and Jan 1, 2004 is elegible to participate in the settlement. According to their Plan of Allocation you can fill out a short form or a long form to sign up."
I got the email too, but I can't figure out if I can claim anything or not. I luckily never had my account suspended or overcharged, but it looks like the suit may get me something anyway... Is that right?
I just love how they claim that banking laws don't apply to them. It's amazing what you can get away with if you have the cash.
Free Mac Mini Yeah, it's
If they could just release the $150 on my 3-year-blocked account, that'd be better... Why did I do nothing to recover my money by force (i.e. go to small claims court or hire an attorney)? because it's less expensive to be scammed out of $150 by Paypal than to wrestle that money out of them, and that's why they get away with this. Why people would sign up with a non-FDIC insured bank (because that's what they are in effect), I'll never know. I did and I won't ever again.
Oh well, with any luck, soon I'll only be out of $149.65...
"A door is what a dog is perpetually on the wrong side of" - Ogden Nash
Not if you're a resident of the EU...
Is this why I not that many months ago got an e-mail about my PayPalaccount now being handled by their EU-company instead of the US one???
perl -e'print$_{$_} for sort%_=`lynx -dump svanstrom.com/t`'
Actually, the way paypal works, you wouldn't have to worry about considering a resolution that involves USD, major currencies are accepted as forms of payment by paypal, and only USD is offered in this settlement.
Maybe you should stop feeling so ripped when you can actually enjoy many of the advantages of the US in your own country. All these people ungrateful about non-us options, while they're depending on US money.
"And we have seen and do testify that the Father sent the Son to be the Savior of the World"
1 John 4:14
Is it smarter to apply and collect whatever money you may (if you cannot prove damages), or to exclude yourself for the future if something bad DOES, indeed, happen to your account (and your money). I would try to exclude myself personally seeing that if 2 million people apply for their part of the settlement, i'd only get about $0.50.
But isn't it so that they shoud be sued for exactly this, instead of some law which obviously does not apply to them?
Paypal's problem is that they want it both ways. They want to act like a financial instution when it suits them, yet they want to be exempted from financial institution rules when it suits them.
Visa/MC could put them out of business if they would issue one-time credit card numbers, associated with specific dollar amounts, thet could be sent via email or whatever and then redeemed at a Visa/MC web site.