HOW MUCH MONEY WILL I GET?
The amount paid from the settlement fund will be based on your actual or estimated interchange fees attributable to Visa and Mastercard card transactions (between you and your customers) from January 1, 2004 through December 2019 [the Settlement Preliminary Approval Date].
The amount of money each Authorized Claimant will receive from the settlement fund depends on the money available to pay all claims, the total dollar value of all valid claims filed, the deduction for opt-outs described above not to exceed $700 million, the cost of class administration and notice, applicable taxes on the settlement fund and any other related tax expenses, attorneys’ fees and expenses, and money awards to the Rule 23(b)(3) Class Plaintiffs their representation of merchants in MDL 1720, which culminated in the Class Settlement Agreement, all as approved by the Court.
HOW MUCH ARE YOUR SERVICES?
WHO DECIDES THE VALUE OF MY CLAIM?
The Class Administrator will have data from Defendants and others which it expects will permit it to estimate the total value of interchange fees attributable to each Authorized Claimant on its Visa and Mastercard card transactions during the period from January 1, 2004 to [the Settlement Preliminary Approval Date] (“Interchange Fees Paid”). It is the current intention to utilize this data to the extent possible, to estimate the interchange fees attributable to members of the Rule 23(b)(3) Settlement Class.
Where the necessary data is not reasonably available to estimate a class member’s Interchange Fees Paid or if the Interchange Fees Paid claim value established by the Class Administrator is disputed by the class member, the class member will be required to submit information in support of its claim. This information will include, to the extent known, Interchange Fees Paid attributable to the class member, merchant discount fees paid, the class member’s merchant category code and/or a description of the class member’s business, and total Visa and Mastercard transaction volume and/or total sales volume. Based on these data, the Interchange Fees Paid attributable to the class member will be estimated for each known member of the Rule 23(b)(3) Settlement Class.
WHAT IF THE CLASS ADMINISTRATOR DOESN'T HAVE MY DATA?
The claim form also allows class members for whom no financial data is available or who were not identified as class members to file a claim. Those merchants will have to fill out and sign a claim form and return it by the deadline.
CAN ANYONE ELSE FILE A CLAIM FOR ME?
Yes, you can have a lawyer or a third-party to file a claim for you.
• Talk to a lawyer, at your own expense, about the release and what it means to you.
• Read the complete Class Settlement Agreement and the complaints in the Barry’s, Nuts for Candy, and B&R Supermarket cases, which may be viewed on the website www.PaymentCardHelp.com.
Important! If you want to keep your right to be part of any other lawsuit based on similar claims, you must opt-out (exclude yourself) from the Rule 23(b)(3) Settlement Class.
Important! If you exclude yourself, do not file a claim form asking for payment. 13. If I do not exclude myself from the Rule 23(b)(3) Settlement Class.
Please be advised that claim forms are not available yet. You do not have to sign up for a third-party in order to get monetary relief. There is no cost assistance available from the class administrator and class council during the claims filing.
For further information please go to paymentcardsettlement.com which is a court approved website for additional information.
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