What to do When You're in a Class Action

At a Glance

• Evolution of Class Action Lawsuits - “More and more class actions are being filed, which means more and more of us may be entitled to money.” This highlights the increasing prevalence of class action lawsuits and the potential benefits for individuals.

• Importance of Responding to Settlement Notices - “Do not put off the decision. At the very least, read the bold, scripted parts of the notice, make note of the return date, and do not miss the deadline.” Emphasizes the importance of taking action when receiving a settlement notice to avoid missing out on potential benefits.

• Role of Claims Administrators - “Shutterfly was ordered to hand over a list of email addresses for anyone who might qualify for this settlement, which was then sent out by a claims administrator.” Illustrates the process of how individuals are identified and notified about class action settlements.

• Variety of Class Action Settlements - “I was part of the Naked Juice class action lawsuit, Zappos settlement, and Minted data breach settlement.” Shows the range of industries and issues covered by class action lawsuits, from product claims to cybersecurity incidents.

• Increase in Class Action Lawsuits - “Jerry Matmon tracks twice as many class actions now as we were ten years ago.” Indicates the growing trend of class action lawsuits and the need for individuals to be aware of their rights and potential claims.

What to Do

• ‘Touch it once, deal with it once’ - By dealing with the claim notice as soon as you receive it, you avoid procrastination and ensure you don’t miss the deadline, ultimately making a more informed decision.

• ‘Read the bold, scripted parts of the notice’ - Focusing on the key information in the notice helps you understand the terms of the settlement and what you’re agreeing to, preventing any misunderstandings.

• ‘Do not put off the decision’ - Acting promptly upon receiving a claim notice allows you to assess your options and make a decision without unnecessary delay, ensuring you don’t miss out on any potential benefits.

• ‘If the amount of money can buy a tank of gas, it’s worth claiming’ - Using the “tank of gas rule” helps you evaluate whether the settlement amount is significant enough to warrant the effort of claiming it, guiding your decision-making process.

What to Get

• Naked Juice - Amazon - Involved in a class action lawsuit for allegedly misleading customers about the healthiness of their juice

• Cat Photo Mug - Amazon - Product purchased from Shutterfly that led to involvement in a class action lawsuit

Summary

In this podcast episode, the hosts delve into the world of class action lawsuits and settlements, shedding light on the often overlooked process of claiming money from these settlements. They discuss how individuals may receive emails or postcards informing them of their eligibility for a class action settlement, but many people often overlook or delete these notifications. The episode highlights the importance of responding to these notices promptly, as failing to do so can result in waiving one’s rights to claim any settlement money.

The hosts interview an attorney, Jerry Matmon, who provides insights into the increasing rate of class action lawsuits and settlements. He explains that juries are becoming more distrustful of authority, leading to higher verdicts in favor of plaintiffs. This trend has resulted in companies being more willing to settle class action lawsuits to avoid the risk of facing a trial and potentially bankrupting the company. Jerry also shares his “tank of gas rule,” which suggests that if the settlement amount is enough to buy a tank of gas, it may be worth claiming.

The episode concludes with a personal anecdote about the hosts missing out on a $25 settlement due to overlooking an email notification. Despite only receiving a $5 voucher as a consolation prize, they humorously discuss using it to purchase items like Post-It notes. The hosts reflect on the intricacies of class action settlements and the importance of being proactive in claiming one’s entitlements. Overall, the episode provides valuable insights into the complexities of class action lawsuits and the significance of understanding and responding to settlement notifications.