Pay Pal Legal Action ?

Goatman

ADC
Book Reviewer
#1
Good Co ,

Not sure if you are aware of this :
From http://www.hoax-slayer.com/paypal-class-action.html

Dear [Name Removed],

IF YOU OPENED A PAYPAL ACCOUNT BETWEEN OCTOBER 1999 AND JANUARY 2004, YOU MAY BE ENTITLED TO A PAYMENT FROM A CLASS ACTION SETTLEMENT.

PLEASE READ THIS NOTICE CAREFULLY.

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN JOSE DIVISION

In re PayPal litigation
Case No. CV-02-01227-JF (PVT)

NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT

1. WHY DID I GET THIS NOTICE?
You have been sent this Notice because the records of PayPal, Inc. indicate you are a current or former PayPal account holder. This means you may be eligible to receive a payment from the proposed class action settlement in the lawsuit In re PayPal Litigation, Case No. 02 1227 JF PVT, pending in the United States District Court for the Northern District of California in San Jose. This Notice provides a summary of the terms of the proposed settlement. It also explains the lawsuit, your legal rights under the settlement, what benefits are available to you under the settlement, and how to get them.

2. WHAT IS A CLASS ACTION?
In a class action, one or more people, called Class Representatives (in this case Roberta Toher and Jeffrey Resnick), sue on behalf of people who have similar claims. All of these people are members of the Class. One court resolves the issues for all Class Members, except for those who exclude themselves from the Class. United States District Judge Jeremy Fogel is in charge of this class action.



Commentary:
Many PayPal account holders have received an email notice that claims recipients may be entitled to a payment due to the settlement of a class action against online payment company, PayPal.

Although the notice could easily be mistaken for some form of phisher scam, the information in the email is in fact true.

A class action lawsuit was filed against PayPal in March 2002 because of an alleged violation of a federal statute. The action has now reached a settlement. According to an FAQ on the official website dedicated to the settlement:


The parties to the action reached a Settlement and the e-mail letter you received is the "Notice" required under the law to be given to each class member that can be identified with reasonable efforts. Under the terms of the proposed Settlement if you opened a PayPal account between October 1, 1999 and January 31, 2004, you may be included in the Settlement Class

If you have received one of these emails, you may indeed be entitled to a payment. For more information, visit the settlement website.

It should be noted that, while this particular email is legitimate, PayPal has been the target of numerous phisher scams in the past. Be cautious of future email purporting to be from PayPal as scammers may try to exploit the class action settlement in order to further their nefarious goals.

References:
http://www.internetnews.com/bus-news/article.php/3390191
http://www.auctionbytes.com/cab/abn/y04/m07/i30/s01
http://msnbc.msn.com/id/5550334/
Considering the ARRSE shop and Donations all operate via PayPal, thought you might wish to be aware ?

Le Chevre
 
#2
Settlement site at https://www.paypal.com/settlement

On November 2, 2004, the District Court granted final approval of the Settlement. The judgment in this Settlement is now final. In accordance with the Notice and the Court's orders, the claims period for the In re PayPal Litigation Settlement ended on October 23, 2004 at midnight. At this time, the claims period IS CLOSED.
(Edited to add the relevant section from the site).
 
#3
Thanks GM. I'm normally very dubious of anything like this, but must admit to almost falling foul of a very good one - the email led to a complete copy of the paypal site, only funnily enough called www.paypal.zz or similar. I imagine the authors get a lot of success from this sort of thing as there are people out there more gullible than me although BCO may dispute that.
 

Goatman

ADC
Book Reviewer
#4
Good Co,

yup,okay. The point to note is that whilst there are a lot of scams flying around the web, as HoaxSlayersite says:
Many PayPal account holders have received an email notice that claims recipients may be entitled to a payment due to the settlement of a class action against online payment company, PayPal.

Although the notice could easily be mistaken for some form of phisher scam, the information in the email is in fact true.
Despite what DarkBlue has amplified, I'm guessing that some ARRSE users may well have been emailed regarding this Class Action and, being the suspicious clicked-on barstewards most are, have ditched it.

End of Public Service Broadcast !

Le Chevre
 
#5
It says accounts had a deposit made to them for payment, but account holders had to apply.

I don't remember ever hearing about this from Pay Pal, despite them apparently making their 'best effort' to contact people.
 

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