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what R you lookin' at?
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paypal lost a class action lawsuit

http://www.internetnews.com/ec-news/article.php/3368111

June 15, 2004
PayPal to Pay Up on Class Action Suit
By Susan Kuchinskas


In 2002, PayPal customers sued, saying the company messed up their accounts. Now, it's payback time.

Three unhappy customers filed a class action suit against San Jose, Calif.-based PayPal, an eBay company, claiming their accounts were frozen or drained in error. Six-year-old PayPal claims more than 45 million accounts in 45 countries.

On Monday, PayPal said it had reached a preliminary settlement agreement, without acknowledging that any of the allegations in the case are true.

"We're very happy to put this case behind us, which is why we settled," said PayPal spokesperson Amanda Pires. "We do not acknowledge the truth of the allegations, but we decided to settle so we could focus on more productive areas of our business."

As part of the settlement, all claims of the class will be dismissed, as will all claims brought in a similar case that's pending in California State Court. According to the company, parent eBay had already prepared for the settlement agreement amount in its consolidated financial statements.

Under the terms of the settlement, most of which were not disclosed, some PayPal account holders will be eligible to receive payments from a settlement fund that will total $9.25 million, less attorneys' fees. The attorneys requested $3.3 million in fees plus $135,000 in administrative costs, according to Pires. Anyone who opened a PayPal account between October 1, 1999 and January 31, 2004 is eligible for a share of the settlement, as long as they didn't reside in a country in the European Union.

The settlement must be approved by the Federal District Court in San Jose, Calif. Following approval, expected in a few weeks, customers will be notified. Those who send e-mail to [email protected] will receive automatic updates on the settlement. PayPal also is required to post a link to the settlement on its corporate Web site by mid-August.
i'm in........show me the $$$

:twofinger
 

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what R you lookin' at?
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5,313 Posts
Discussion Starter #3
cuz they did have access to my account....and i'm greedy :twofinger

and i can't remember chit from 4 yrs ago, but i'm sure they ripped me off back then........ :nerd
 

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______ETA B4U______
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1,990 Posts
So that's about 6,000,000 divided among all the pay pal users minus the Europen Union. That might work out to a quarter a person. Don't spend it all in one place.

If they are saying all the people get a share that joined between those dates.
 

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Pay Pal also has my banking info, but I haven't had a problem with um. I double check my bank statements daily. See if there are any hiden charges or drafts that I didnt authorize.
 

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Light it up! Light it up!
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theres not really enough information there in that article for me to understand what's going on.

why did these people sue? was their pay pal account drained, or their bank account, or what?

how do you know if you are eligible?

anyway, i'm sure i'm not eligible, and i'm pretty sure they haven't messed up my account.
 

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Light it up! Light it up!
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1,459 Posts
yeah, that spells it out nice and clear. i can't access the first page tho, probably something to do with where i am tho.

Nope, not for me, i've had no trouble with them.

I love this one: You requested information from PayPal about an account restriction or limitation or unauthorized transfer and you did not receive a satisfactory response; and/or

I can only imagine all the people that had money drained, got a hold of paypal, and paypal gave them a round-about screwing. :lol that sucks, i hate when big companies try and get away with theft.

go justice system. :headbang :spank
 

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Moto GP Champion
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I'm in too Ed, Do you just have to fill out the form or what? I read over the email they sent yesterday, but didn't have time to really sort through it.
 

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I believe someone on this board experienced this situation. He was selling products on Ebay. A customer complained to Paypal about a product the seller sent, and Paypal froze the seller's accounts until the matter could be investigated. The disputed amount was less than $10, yet Paypal froze thousands of dollers.

Glad to see that Paypal is getting nailed for this.

I've never sold anything on E-Bay, so I've never had to worry about this situation. I've personally never had any trouble with Paypal when purchasing items.
 

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Valiant Poultry
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15,151 Posts
gpTT said:
I believe someone on this board experienced this situation. He was selling products on Ebay. A customer complained to Paypal about a product the seller sent, and Paypal froze the seller's accounts until the matter could be investigated. The disputed amount was less than $10, yet Paypal froze thousands of dollers.

Glad to see that Paypal is getting nailed for this.

I've never sold anything on E-Bay, so I've never had to worry about this situation. I've personally never had any trouble with Paypal when purchasing items.


I don't remember seeing that on this board personally, but I do recall reading about it on some other boards that I used to frequent. This guy was doing his business and had a couple grand in his paypal account, and then the dispute was for like $7.95 or something and Paypal froze all the money in his account...and didn't release it for several weeks.
 

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Hell, paypal already settled, that's why they're sending out the email. The more people who sign on, the less the people who sued get. Paypal still pays out the same dollar amount.
 
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