PM me if interested in joining potential class action suit v. Neteller

[ChipsChick]

I definitely agree that lawyers take advantage of people. But Neteller and the DOJ have already done that too. I don't think anyone will get their money back if they haven't already, and is everyone just supposed to roll over and give up? I don't know what the right answer is, but I'm certainly willing to explore the options.

[phish]

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OP,

Do you mean a multiple-plaintiff lawsuit rather than a class action? To file a class action, you really don't need more than couple of representative plaintiffs.

Also, class actions are a scam. They usually do not benefit the plaintiffs they preport to represent. What usually happens in class actions is that the lawyers will negotiative with the defendant for a settlement whereby the lawyers get a multi-million dollar fee and the defendant is now insulated from future actions. The plaintiffs are usually paid in coupons (literally) or pennies.

If a class action is filed, and a settlement reached, I fear that those supposed plaintiffs will get royally screwed. The settlement may look something like this: the plaintiff attorneys get $4M, all US depositors will be paid 5 cents on the dollar, and Neteller is now immune to legal action by US depositor who did not have the fore knowledge to opt out of that class action.

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This is simply incorrect. The court has to sign off on any settlement, as well as any attorney fee award. Also, any plaintiff within the class can choose not to participate in the proposed settlement, and his or her rights as against Neteller would be unaffected by the settlement.

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Yes, the court has to sign off. But unless there is some strenous objection by a third party, or if the agreement is especially egregious (and paying 5 cents on the dollar would not be considered egregious), the courts usually sign off.

And yes, any member of the class can opt out, but unfortunately, most class members don't even know about the suit and do not opt out. Then they find out they're stuck with the crappy settlement.

Don't get me wrong, I think a lawsuit may be the proper way to go. Just not a class action lawsuit. Do a regular suit with multiple plaintiffs.

[DrewOnTilt]

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I am in talks with a prominent NYC law firm that specializes in plaintiff class action suits (I practice with a much smaller firm). Although we are still in the evaluation process, we may soon need plaintiffs in order to file suit. Please PM me if interested, particularly if you have a large sum of money stuck in Neteller.

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Not to discourage you, and hopefully not to repeat anything already said in this thread since I haven't read it, but why the [censored] are you suing Neteller? They aren't the problem here. Granted their level of service through this mess has been less than desirable, but they are not the direct cause of this mess.

[Post-Oak]

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Granted their level of service through this mess has been less than desirable, but they are not the direct cause of this mess.

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Assuming that Neteller has the money readily available, what is the reason they can't allow withdrawals? Paper checks?

What is the reason they can't allow P2P xfers?

What is the reason they can't have non-gambling merchants available to do business with? Let's say someone selling gold coins, or one of these online currency investment/exchange sites?

Do you believe the ridiculous answers they have supplied? You will eventually be in the minority if you are one those rubes who thinks Neteller has been straight up with their customers and shareholders.

[phish]

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Class actions are only a scam if you have suffered sufficient damages such that it would be economically feasible to bring a suit of your own. When a company screws 10,000 people out of $10, $100, or even a $1,000 it wouldn't be worth it for individual plaintiffs to sue as the legal costs would be much higher the the amount at stake. So a class action is a good thing for those plaintiffs with small claims.


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This was the logic for class actions initially. Unfortunately, this mechanism has been so abused by opportunistic lawyers that now it is pretty much a scam that if anything hurts the people it purports to help.

And frankly, if you have $1000 in neteller, is getting $50 really worth it, if it means that there is now no chance you will ever get the rest of that $950? I'd think I would just take my chances and wait.

[jaminbird]

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Class actions are only a scam if you have suffered sufficient damages such that it would be economically feasible to bring a suit of your own. When a company screws 10,000 people out of $10, $100, or even a $1,000 it wouldn't be worth it for individual plaintiffs to sue as the legal costs would be much higher the the amount at stake. So a class action is a good thing for those plaintiffs with small claims.


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This was the logic for class actions initially. Unfortunately, this mechanism has been so abused by opportunistic lawyers that now it is pretty much a scam that if anything hurts the people it purports to help.

And frankly, if you have $1000 in neteller, is getting $50 really worth it, if it means that there is now no chance you will ever get the rest of that $950? I'd think I would just take my chances and wait.

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Wait for what exactly? Last time I checked, when a company loses in court they don't go around afterward repaying in full all of those who missed out on the judgment. Also, I was saying that class actions are a bunch of crap. Thats why my advice was to meet with your own personal attorney in the event of a class action so you can preserve your right to bring your own suit.

[lacky]

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Im in, i got three fiddy locked up in there, lets get them bastages!! I will pay 5% of any monies received in excess of my original balance. And I ain't just pontificating!!

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lol, nh sir.

fwiw, yes, I think neteller has handled this poorly and should be held accountable. Problem is, every class action suit I've been part of has resulted in very rich lawyers and insignificant amounts for "plaintiffs". If I recall correctly, last one was against sears, where lawyers got 40 mil, and I got a 20% off coupon up to $100. [img]/images/graemlins/frown.gif[/img]

[Los Feliz Slim]

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Man, you can't swing a dead cat in this thread without hitting several lawyers. There's a bunch of us on here.

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I pledge $10 towards the cause of hitting some lawyers with a dead cat.

[cardcounter0]

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Man, you can't swing a dead cat in this thread without hitting several lawyers. There's a bunch of us on here.

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I pledge $10 towards the cause of hitting some lawyers with a dead cat.

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I would rather hit a cat by swinging dead lawyers.

[phish]

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Im in, i got three fiddy locked up in there, lets get them bastages!! I will pay 5% of any monies received in excess of my original balance. And I ain't just pontificating!!

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lol, nh sir.

fwiw, yes, I think neteller has handled this poorly and should be held accountable. Problem is, every class action suit I've been part of has resulted in very rich lawyers and insignificant amounts for "plaintiffs". If I recall correctly, last one was against sears, where lawyers got 40 mil, and I got a 20% off coupon up to $100. [img]/images/graemlins/frown.gif[/img]

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If I recall, there was one where the plaintiffs won the suit but lost money. It was against a Florida bank, and the settlement stipulated the 'plaintiffs' or depositors' accounts would be debited to pay for the settlement.

What's happening is: first Neteller bars you access to your money. Now these class action jackals are coming in to enrich themselves and make the confiscation legal and permanent.

I don't have any money left in Neteller. But those that do should ban together and vigorously challenge any suit that seeks class action status. At the same time, you could file your own suit against Neteller, just not a class action.

And if you can't derail the classaction, then by all means opt out of it. Any 'award' you would get from that class action would be more an insult than substantive.