For that big numismatic class action lawsuit in Texas--estimate of an amount that the class members
Longacre
Posts: 16,717 ✭✭✭
Does anyone know if there is an estimate of the amount of compensation that each class member stands to received in that big numismatic class action lawsuit in Texas (assuming they win)? I have no interest in the suit and I am not a party to it. I was just curious if an estimate has been given on potential recoveries, especially since numbers have been thrown around regarding the amounts by which customers have allegedly been wronged.
Several months ago I got a note in the mail regarding a class action lawsuit against Citibank (something about overcharging for mortgage processing fees or something like that). The total suit was several hundred million dollars, if I remember correctly. I signed up as a class member, thinking that I would be paid millions. I got the check yesterday, in the princely sum of $30. So I was curious how much the class members of the numismatic suit tend to gain on their litigation.
Several months ago I got a note in the mail regarding a class action lawsuit against Citibank (something about overcharging for mortgage processing fees or something like that). The total suit was several hundred million dollars, if I remember correctly. I signed up as a class member, thinking that I would be paid millions. I got the check yesterday, in the princely sum of $30. So I was curious how much the class members of the numismatic suit tend to gain on their litigation.
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
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Comments
They should compensate me for the "pissy mood" they put me in every time they called. I think $10,000 would make me feel better
<< <i> I got the check yesterday, in the princely sum of $30. So I was curious how much the class members of the numismatic suit tend to gain on their litigation. >>
You actually got cash? Usually you get a useless coupon, but thank goodness the class action attorneys usually get a Big Score (TM).
<< <i>Bottom feeding scum lawyers are the only one's who make out in class action suits. If the "harmed" parties receive a dollar they will be doing good. >>
Not all lawyers are scum, just like not all coin dealers are crooks. I think that I am huggable and loveable.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
If the plaintiffs win, my guess is they'll each get something like a $5 coupon towards the purchase of a ASE from any of the firms involved.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>I have been asked to participate in numerous shareholder suits over the years. They are not worth the effort to get the paperwork in order. I now discard all of the requests unopened. >>
Same here. These class action suits only make money for the law firm involved - in the case of securities, 90% seem to originate with the Garden City Group in NY.
Plaintiffs - 20 to 30 I believe, don't know the exact number.
If there is any payoff a large amount will go to the lawyer(s) involved of course.
Highly unlikely that if successful they would be getting anything near $1.1 billion.
Jerry
<< <i>I thought in a class action suit 1 or 2 of the plaintiffs that got the ball rolling get the big money...along with the lawyers...those that sign on in the class action part have to divide up the leftovers.
Jerry >>
I don't know, that would make sense of course. Laws probably vary from state to state.