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Equifax Settlement= Easy Money

Avery said:
I remember this. More specifically, I remember not getting a single red penny while the lawyers made out like bandits.
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That's why they were invented. Originally it was a lawyer and a single plaintiff and a suit that could really help that plaintiff. The lawyers saw that with a lot of work they would get a million dollar settlement for their client, and a healthy 30-50% of the million bucks. Then there was another client, same issue. The thought, we can put in double the effort and get maybe double the money although the company at this point will most likely settle for less than the million we got for the first guy. So we do the same work, get less money, but our client gets the help they desperately need faster. Wait, there's another one? Quicker settlement, same work, less money for us. Hang on, why can't we group these together. We will bump it up to 100 million, we pocket 50 million and our clients can share whatever's left. Sure none of them get any help at all, but we're ****ing rich! **** the plaintiffs, gimme that class-action!
 
LogGrad98 said:
That's why they were invented. Originally it was a lawyer and a single plaintiff and a suit that could really help that plaintiff. The lawyers saw that with a lot of work they would get a million dollar settlement for their client, and a healthy 30-50% of the million bucks. Then there was another client, same issue. The thought, we can put in double the effort and get maybe double the money although the company at this point will most likely settle for less than the million we got for the first guy. So we do the same work, get less money, but our client gets the help they desperately need faster. Wait, there's another one? Quicker settlement, same work, less money for us. Hang on, why can't we group these together. We will bump it up to 100 million, we pocket 50 million and our clients can share whatever's left. Sure none of them get any help at all, but we're ****ing rich! **** the plaintiffs, gimme that class-action!
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Most class actions will never yield savings for consumers. I've been through a few that get diluted as the pool of those who qualify as true consumers end up getting overrun with people making a few quick bucks that don't have to send in proof to qualify. Even stuff like getting $25 has elicited checks for $4.28 once the masses take hold. Sites such as classactionrebates.com are good at informing consumers of what's out there, but way too many people apply to them when no proof is needed to get a slice of the pie.
 
Avery said:
Most class actions will never yield savings for consumers. I've been through a few that get diluted as the pool of those who qualify as true consumers end up getting overrun with people making a few quick bucks that don't have to send in proof to qualify. Even stuff like getting $25 has elicited checks for $4.28 once the masses take hold. Sites such as classactionrebates.com are good at informing consumers of what's out there, but way too many people apply to them when no proof is needed to get a slice of the pie.
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Exactly. The class-action has nothing to do with the actual plaintiffs, it is all about enriching the lawyers. Other than that there is no use for them at all.
 
framer said:
You understand the more people who sign up, the less everyone gets, right? The $125 is a max. You will likely get about $12.
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You were WAY off. that is more than double what we actually got.

Actually a good estimate though from 3.5 years ago.
 
Gameface said:
WOOO ****ING HOOO!

Got my dolla dolla bills!!!!!!

$5.21 big smacaroonies
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But remember the bigger picture, the company was taught a valuable lesson.


bu-WAH HAH HAH HAHAHAHAJA!!

Of course that's completely ********. The bigger picture is half of the settlement get spread out to a million people, but the feel-good part is the other half went to a dozen lawyers. We can rest easy that they got to buy another new boat or Ferrari. That should make everyone feel good about it.

After all that is why class actions were invented in the first place. Why sue for one guy and get half of a 5 million settlement when I can sue for a million people all at once and get half of a billion settlement.
 
Gameface said:
WOOO ****ING HOOO!

Got my dolla dolla bills!!!!!!

$5.21 big smacaroonies
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Invest that wisely and in 30 years you can afford a lunch for one at McDonald's. Everyone knows that amount won't buy a lunch there right now.
 
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