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Old 06-01-2008, 05:57 AM   #1 (permalink)
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Joining a class action lawsuit

Well, thanks to the negligence of my old bank coupled with what I consider to be a pretty half-assed coverup job by its affiliates, I am awaiting response from a local law firm who is heading a class action suit against People's United Bank, among other banks tied up in the incident.

Just a brief synopsis of what happened, People's Bank and a few others share customer data with BNY Mellon. While transporting information by truck, a box of tapes full of unencrypted data with the personal information and account numbers of as many as 4.5 million customers managed to "vanish". Rather than report it immediately as required by CT state law, they gave no mention of it to any authorities for nearly a month. Hell, I didn't even get the letter in the mail officially informing me of the incident until May 31st. This bank, as it was also discovered, also threw out customer information in dumpsters without shredding or incinerating it, since it was "costly and time consuming."

Link to CT Post article here: http://www.connpost.com/ci_9397948

So now, I have to watch my credit score/history like a hawk for years to come, to protect myself from identity theft.

So my question to all of you, have any of you joined in on a class action suit before? Was much, if any, additional followup on your part required once the case was underway? How did you end up compensation-wise?

My father is also curious about this, as he is looking into joining a class action suit against a pharmaceutical company who covered up the effects of a drug, ultimately causing death among 10's of thousands by renal failure for patients who underwent open heart surgery (which lead to the death of my grandmother as well).
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Old 06-01-2008, 06:11 AM   #2 (permalink)
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I have never been in a class action before either. But I'm part of that same People's/Mellon fuckup. And last year, I was part of the State of Connecticut lost laptop fuckup.
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Old 06-01-2008, 06:16 AM   #3 (permalink)
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Have you put any thought into joining in this suit? I think its asinine that they feel their "one year of credit checking" bullshit is supposed to seem like fair justification.

"We just thought you'd like to know, that yes, someone has in fact opened 50 credit card accounts with your information, you should get on that. Thanks for working with People's!"
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Old 06-01-2008, 03:51 PM   #4 (permalink)
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I have been part of a few class actions lawsuits.

In being part of them required nothing but my signature on a form if I was to disclude myself from the lawsuit.

here's what came of it:

CD price fixing: I got $20 check.

Microsoft price fixing: I got $79 coupon.

Bausch & Lomb product solution fraud: I got some more coupons

AT&T wireless extra fee fixing: I got even more coupons for usage in their stores for accessories.

Allstate inflated premiums: I never got notified of anything aside from the initial paperwork. I don't know maybe it's pending.

Personally class action suits suck balls. Taking someone to court also sucks balls. The only winners here are the lawyers.

Recently my old employer was hacked and data was compromised, they are paying for 3 years of following someone's credit reports or something like that.

When it comes to that information, it's my responsibility to monitor it anyways, so I don't really care if they pay for it or not.

edit: sorry I got $20 check from the music companies for overpricing CDs for many many years.
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Last edited by Cynthetiq; 06-01-2008 at 07:03 PM..
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Old 06-01-2008, 04:47 PM   #5 (permalink)
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Quote:
Originally Posted by Cynthetiq
Personally class action suits suck balls. Taking someone to court also sucks balls. The only winners here are the lawyers.
Yep...the lawyers are the ONLY ones making money off of these suits. Read Grishom's latest book for a nice taste.
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Old 06-01-2008, 07:00 PM   #6 (permalink)
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Compensation is always crap. Even if it's cash (well, a cashable check) it's for peanuts. *shrug* Not saying don't do it, just don't expect much of it either!
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Old 06-01-2008, 07:12 PM   #7 (permalink)
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I joined the CD price fixing lawsuit back when it was going, and I joined the Airborne homeopathic remedy suit because I bought some back when I was dumb and thought that homeopathic therapy was capable of doing anything. I got my CD settlement check, I'm looking forward to whatever I get from Airborne's fraud.

It's just a matter of filling out forms.
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Old 06-02-2008, 03:25 AM   #8 (permalink)
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Cynthetiq you forgot the netflix where you got 1 free month i think or 1 extra movie for a month.

Transunnion is offering free credit score settlement.

Quote:
If you had a credit card, loan or credit account between January 1987 and May 28th, 2008, you are eligible to file a claim in a preliminary settlement of a class-action lawsuit (though not slated to be approved until September, though it’s probably going to happen). That’s a whole lot of people. The lawsuit was filed eight years ago in Chicago and alleges that TransUnion sold consumer profile information to businesses, which is a violation of federal law. What started in Chicago certainly didn’t stay there, eventually there were 14 federal lawsuits. Yikes!
http://www.bargaineering.com/article...ettlement.html

Last edited by Xazy; 06-02-2008 at 03:31 AM..
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Old 06-02-2008, 04:56 AM   #9 (permalink)
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I'm not really expecting to get much monetarily out of the case. I'm more or less looking to stick it up this banks ass and give them as much negative press as possible if it doesn't involve much work on my end.

Thanks all for the suggestions. I'm definitely signing on board.
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Old 06-02-2008, 06:37 AM   #10 (permalink)
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I am not really up on the law side of it, but you may want to check up on services like LifeLock. I wouldn't recommend buying the service though. From reading what they do, <a href="#article1>their job</a> can be taken care of by something as simple as an automated emailing script that anyone could write themselves after three or four Google searches. The only real benefit is the million dollars LifeLock will spend to get your life back on track after fraud dirties your name.

Also, the guy that started LifeLock, the one that puts his real social security number in ads, <a href="#article2">has had one successfully theft of his identity (guy in Texas duped loan officers for $500.00)</a>.

  1. <a name="article1"></a>
    Quote:
    View: How LifeLock Works // Source: Lifelock (http://www.lifelock.com)
    Abstract: "Here's what we do"   click to show 
  2. <a name="article2"></a>
    Quote:
    View: Fraud-prevention pitchman becomes ID theft victim // Source: Edition (http://edition.cnn.com)
    Abstract: "Davis acknowledged in an interview with The Associated Press that his stunt has led to at least 87 instances in which people have tried to steal his identity, and one succeeded: a guy in Texas who duped an online payday loan operation last year into giving him $500 using Davis' Social Security number."   click to show 
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Old 06-02-2008, 12:58 PM   #11 (permalink)
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yes I forgot about the Netflix one... that's because I just got a month free, which I really didn't notice at all since I'm still a subscriber.

Heck, I signed up for the airborne one because I have purchased it in the past. I dunno if it worked or not, but I did like the fact I got an interesting bubbly beverage.

Quote:
View: Class-Action Lawyer Gets 30 Months
Source: NYTimes
posted with the TFP thread generator

Class-Action Lawyer Gets 30 Months
June 3, 2008
Class-Action Lawyer Gets 30 Months
By JONATHAN D. GLATER

Melvyn I. Weiss, the prominent class-action lawyer, was sentenced on Monday to 30 months in prison by a federal district judge in Los Angeles for his role in concealing illegal kickbacks to plaintiffs.

He was also ordered to pay $9.7 million in forfeitures and $250,000 in fines.

The sentencing nearly concludes an investigation that began some seven years ago of tactics used by Mr. Weiss’s former firm, Milberg Weiss, now called Milberg

Mr. Weiss’s former partner, William S. Lerach, is serving a two-year sentence as a result of the same investigation, and other lawyers have pleaded guilty for roles in what prosecutors described as a criminal conspiracy that lasted for decades. Mr. Lerach was also ordered to forfeit $7.75 million.

Mr. Weiss, Mr. Lerach and the law firm that they built together dominated the lucrative field of securities class-action litigation, filing many lawsuits against publicly-traded companies on behalf of investors who lost money when corporations’ share prices fell. Milberg itself still faces an indictment and is set to go to trial in August, but a settlement is widely expected between the firm and prosecutors.

It is hard to overstate the prominence of Mr. Lerach and Mr. Weiss in the world of shareholder litigation, or the anger and frustration their lawsuits caused among the ranks of corporate executives.

“They were dominant,” Carl Tobias, a law professor at the University of Richmond, said. “It’s really the class-action device and its use that they perfected.”

Mr. Lerach and Mr. Weiss pleaded guilty to conspiring to make secret payments to lead plaintiffs in shareholder class actions, essentially to reward what prosecutors described as a “stable” of ready clients who held stock in a variety of companies. The payments meant that the lead plaintiffs stood to receive more money than they would if they had simply been members of the class, and that as a result they might not have looked out for the best interests of the entire class as lead plaintiffs are supposed to do.

Because Milberg had clients ready, it could get to the courthouse first, seek to be lead counsel to the class of aggrieved investors and demand more in legal fees, Mr. Tobias said.
yeah, this makes me even more sure that the lawyers are the winners....thank god this one is now a loser!
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