Thursday, December 21, 2006

Member of the Class

On December 6, I received a credit on a credit card statement: For "SHEA CLASS ACTION LIT. SETTLEMENT AWARD": -$0.05. Five cents! For what, I don't know, but I am 5 cents richer for being a member of the class. What class?

After much searching, I have finally found out: It is for something called "Shea, et al. v. Household Bank (SB), National Association, OCSC Case No. OOCC12585." A settlement for $16 million against the company that issues the GM MasterCard. I had to go to Snopes to find it.

Another blogger (scroll down to "Windfall") had already reported getting the refund. Now I feel really rich -- the blogger got only one cent in their settlement. One cent! I got a full nickel. HA!

Today, my luck with classes continues: I received my check from the WorldCom Settlement Fund. This one is big, big, big! For defrauding millions of investors, the remnants of WorldCom, Citigroup, and Andersen had to shell out over $6 billion in damages. And I get... $15.16. Fifteen Dollars and Sixteen cents!! I feel mighty blessed now. The "class" covers only people who bought shares between April 29, 1999 and June 25, 2002. Damages from the shares I already had? None. I get a settlement check because a) I got a handful of MCI Tracking stock from the 2001 spin-off, and b) I bought a few more to get a round number out of it. So now I'm down to a 95% loss! Still, no holiday cards to Mr. Ebbers.
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