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.

19 comments:

Anonymous said...

I actually work for the GM card. Little is actually given to us as far a information on what the Shea litigation award was for. We were not even told what the case was about. Most of our customer if not all have received this credit as well as several of our customer that haven't been active for awhile. Just thought you would like to know. By the way... I haven't seen anything more than a dollar for the credits.

Anonymous said...

our award was $1.29

Anonymous said...

mine was 1.88.

Anonymous said...

Mine was 1.28

Anonymous said...

I got two for $1.24 each.

Linda said...

mine was $1.52 which I received today. Never had a GM card! Go figure.

Billiam said...

I got (2) two for $ 1.24 . Never had a card from GM. And I haven't had a credit card for over 10 years!

Anonymous said...

Wow, mine is a whopping $5.04.
I don't remember ever even having a GM card.

Anonymous said...

My mother in law got 2 as well. for $1.24 each. This seems to be a reacuring amount. We have been searching the interenet now for at least an hour. I was just getting ready to give up when I found this. THANKS! I will sleep easier tonight, I won't be thinking of Shea, Rust or whether my mother in law will have her bank account raided by some slimmy credit card company. Amusing-
Jamie

Anonymous said...

I recieved a postcard with a check printed on it for $1.25 memo Shea Class Action Settlement Award. I am not a member of any class action suit nor would I want to be. I am not a stupid to sign a check and sent it to my bank where they would print my account info on the back and send it back to the issuser not for $1.25

Anonymous said...

mine of 1.24 and a second on of 2.74

Anonymous said...

Well this isn't a scam. Household Fianance owned several credit cards accounts. Mine was Providian. They posted late fees added credit protector fees without approval to these accounts. A class action suit was filed. If I recall this goes back at least 6 years. I say this because I cancelled that card back then and I still recieved a settlement for $2.60 in 2007. Now as far as worring about your account number being on it. Just cash the check. Do not deposit it into you account if you are still worried. Remember you don't have to deposit any check if you have an account at a bank, they should just cash the thing.

Anonymous said...

If anyone is interested more info can be found at the following site.
http://www.omm.com/webdata/content/publications/client_alert_class_action_2003_01_15.htm

krazy4kats said...

My family received a post card check in the mail today for $2.61 in regards to the Shea Class Action Settlement Award. The check, however, was in my father's name and as he passed away several years ago, not to mention the fact that we knew nothing about this class action lawsuit, we were concerned. I spent quite a bit of time online searching for information. As you can imagine, there is little information available. Considering that this is a legitimate class action lawsuit, I would have thought there were be plenty of available information. Never the less, thank you for the information.

Anonymous said...

Last week we got one for 1.24 and today one for 3.73. Never had a GM card but vaguely remember loan(s) through household finance. It just doesn't make sense that they would send checks without some explanation. So it's legitimate and safe to cash these?

Anonymous said...

Yes it is safe. Now please excuse the conspiracy theory hat I now don. There is little or no explanation because 1. The funds to pay the settlement if not used go to the plaintiff lawyers or defendants i.e.: they hope you don't cash the checks (unclaimed funds) so they keep the money. With out seeing the settlement details we will never know who gets it. 2. The lawyers that filed the case (btw $16 million was the settlement) got 33.3%. Do the math $5,328,000. Bet none of that team got a check for 5 cents. So $10,672,000 floats in limbo....well maybe not.....

Anonymous said...

Once again here is a ruling.
http://www.omm.com/omm_distribution/newsletters/client_alert_class_action/pdf/shea_v_household.pdf

Anonymous said...

Anonymous Said...
I got 1 check for $1.24 and did not even Know why I'm thinking if this is not cashed they might be Responsible for a lot more. if we cash these they get off easy.
Dont cash it!

WhatsInAName said...

I feel so blessed, I actually got 2 checks for the identical amount of $1.24. I thought this was for something related to a 24 hour gym membership suit I got info on about 6 months or so ago. Said their was a class action law suit against them. I can't even remember last time I had a GM card. I just deposited the checks to my checking account today. I am still awaiting that check with a few more zeros and commas on it!