At the 1st Post Title in this Forum
CRYPTSY stopping withdraw locking accounts without notifying users! Class Action
Little real world information for anyone that believes they will receive a Full Refund.
Don't Count on it.
Class Actions Lawsuits are only a way to make a corporation stop doing a certain type of action.
Normally the only ones that receive any Real Money are the Lawyers and special counsels that might be paid by the proceeds.
Whatever pittance is left is divided equally among the people listed , those people don't usually get jack.
Read the following to understand.
http://www.americanthinker.com/articles/2013/04/the_class_action_racket.html
FYI:
Broken down, class actions means only the Lawyers get rich and the plaintiff gets as close to $0 as possible.
CRYPTSY stopping withdraw locking accounts without notifying users! Class Action
Little real world information for anyone that believes they will receive a Full Refund.
Don't Count on it.
Class Actions Lawsuits are only a way to make a corporation stop doing a certain type of action.
Normally the only ones that receive any Real Money are the Lawyers and special counsels that might be paid by the proceeds.
Whatever pittance is left is divided equally among the people listed , those people don't usually get jack.
Read the following to understand.
http://www.americanthinker.com/articles/2013/04/the_class_action_racket.html
Quote
April 1, 2013
The Class Action Racket
By Lawrence W. Schonbrun
Have you ever received a notice in the mail informing you that you might be a member of a class action lawsuit? You probably have. Did you even bother to read it? Probably not. Did you ever file a claim for compensation? Probably not. Did you ever file an objection to the settlement? Certainly not. Did you know that the lawyers bringing these suits get paid regardless of how many people file claims and regardless of how many class members actually get anything out of the settlement?
In what could be the poster child for the dysfunctional class action system, plaintiffs’ lawyers in the Ford Explorer SUV class action settlement were awarded $25 million in attorneys’ feesby claiming that the class members were receiving a benefit of $500 million. However, what class members actually received was a $500 coupon towards the purchase of a new Ford vehicle. Only 148 of those were ever redeemed for a total value of $74,000. That’s right -- $25 million for the lawyers although the class members actually received $74,000.
But it gets worse. Take the infamous Bank of Boston class action. In that case, class members had their accounts credited between $2.19 and $8.76 as a result of the settlement, but also had their accounts debited with a “miscellaneous deduction” of up to $91 -- to cover the costs of the settlement, i.e., plaintiffs’ and defendants’ attorneys’ fees and litigation costs. For this so-called “benefit” to class members, class counsel received $8.5 million in attorneys’ fees.
It's all about focus. Class action lawyers don't want the public to focus on the negative aspects of class action settlements -- the $91 the lawsuit is costing you. All class action settlements focus on the benefits, however meager, but never disclose the true costs to class members and consumers generally.
Why do the lawyers get so much when their clients get so little? In the words of Federal Judge William G. Young, “simply put, the class action vehicle is broken.” Unfortunately, the vehicle works well for the people who run it -- lawyers -- and the people who could fix it -- judges and legislators. The injured class members who are supposed to be the primary focus of these cases have become its primary victims. The plaintiffs’ lawyers are happy because they are getting overpaid -- massively; the defendants’ lawyers and the experts (hired by both sides and an important part of the class action scheme) are happy because they’re getting well paid (if not overpaid); the defendants are happy because they are avoiding further costly legal proceedings with unknown outcomes. And, last but not least, the judges are happy because they are getting a case cleared off their dockets.
Unfortunately, the criterion for good judging these days is how quickly cases are processed to conclusion, not how well reasoned the outcomes. The judge gets the additional satisfaction of having made an important decision in a big case, thereby enhancing his or her self-importance and reputation. Some class members may even be happy -- at least those few who actually read the notice and redeemed their coupons. (Although is getting a $500 coupon towards the purchase of a $25,000 car really something to gloat about?) Even some class members who didn’t redeem their coupons may be happy because they assume that a bad corporation has been punished for some actual or alleged misdeed. But we as a society should not be happy because money (we’re talking hundreds of millions if not billions of dollars) that could be going to a better use becomes nothing more than slop for thousands of lawyers feeding at the class action trough.
What’s wrong with the class action system? Why does it put lawyers’ interests first, the public's interest last, and class members’ interests next to last?
The Class Action Racket
By Lawrence W. Schonbrun
Have you ever received a notice in the mail informing you that you might be a member of a class action lawsuit? You probably have. Did you even bother to read it? Probably not. Did you ever file a claim for compensation? Probably not. Did you ever file an objection to the settlement? Certainly not. Did you know that the lawyers bringing these suits get paid regardless of how many people file claims and regardless of how many class members actually get anything out of the settlement?
In what could be the poster child for the dysfunctional class action system, plaintiffs’ lawyers in the Ford Explorer SUV class action settlement were awarded $25 million in attorneys’ feesby claiming that the class members were receiving a benefit of $500 million. However, what class members actually received was a $500 coupon towards the purchase of a new Ford vehicle. Only 148 of those were ever redeemed for a total value of $74,000. That’s right -- $25 million for the lawyers although the class members actually received $74,000.
But it gets worse. Take the infamous Bank of Boston class action. In that case, class members had their accounts credited between $2.19 and $8.76 as a result of the settlement, but also had their accounts debited with a “miscellaneous deduction” of up to $91 -- to cover the costs of the settlement, i.e., plaintiffs’ and defendants’ attorneys’ fees and litigation costs. For this so-called “benefit” to class members, class counsel received $8.5 million in attorneys’ fees.
It's all about focus. Class action lawyers don't want the public to focus on the negative aspects of class action settlements -- the $91 the lawsuit is costing you. All class action settlements focus on the benefits, however meager, but never disclose the true costs to class members and consumers generally.
Why do the lawyers get so much when their clients get so little? In the words of Federal Judge William G. Young, “simply put, the class action vehicle is broken.” Unfortunately, the vehicle works well for the people who run it -- lawyers -- and the people who could fix it -- judges and legislators. The injured class members who are supposed to be the primary focus of these cases have become its primary victims. The plaintiffs’ lawyers are happy because they are getting overpaid -- massively; the defendants’ lawyers and the experts (hired by both sides and an important part of the class action scheme) are happy because they’re getting well paid (if not overpaid); the defendants are happy because they are avoiding further costly legal proceedings with unknown outcomes. And, last but not least, the judges are happy because they are getting a case cleared off their dockets.
Unfortunately, the criterion for good judging these days is how quickly cases are processed to conclusion, not how well reasoned the outcomes. The judge gets the additional satisfaction of having made an important decision in a big case, thereby enhancing his or her self-importance and reputation. Some class members may even be happy -- at least those few who actually read the notice and redeemed their coupons. (Although is getting a $500 coupon towards the purchase of a $25,000 car really something to gloat about?) Even some class members who didn’t redeem their coupons may be happy because they assume that a bad corporation has been punished for some actual or alleged misdeed. But we as a society should not be happy because money (we’re talking hundreds of millions if not billions of dollars) that could be going to a better use becomes nothing more than slop for thousands of lawyers feeding at the class action trough.
What’s wrong with the class action system? Why does it put lawyers’ interests first, the public's interest last, and class members’ interests next to last?
FYI:
Broken down, class actions means only the Lawyers get rich and the plaintiff gets as close to $0 as possible.
If its just chump change (usually the case,as you rightfully pointed out) no proof or documentation required, just name and addy,
so anyone and his brother can join many of these current class actions which inevitably thins out the available funds...
https://topclassactions.com/lawsuit-settlements/open-lawsuit-settlements/
i got reminded of it when outta the blue,i got a $30 check in mail from one (of many) i musta
filled out like a year ago. (Toms Toothpaste).
free money for cost of postage stamp and/or a few mouse clix.
id join the cryptsy one but thankfully i managed to get most of my funds out via dogecoin just before the ship sank.
if you lost your shirt as many did, the class action is probably not gonna do much for you.
