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There would be no settlement at all without lawyers taking the case on contingency and fronting the costs.
by EpicEng 7y ago
There would be no settlement at all without lawyers taking the case on contingency and fronting the costs.
- cma 7y agoNo settlement would be better since filling out the forms costs more than $6 in time.
- EpicEng 7y agoThe settlement is meant to be punitive, not necessarily amount to a windfall for you. It's not terribly easy in a case like this to even prove damages. And no, it wouldn't be better to let them off the hook completely. I'm not saying this settlement is _at all_ satisfying, but c'mon.
- Retric 7y agoThe settlement is also political cover to avoid dealing with this problem. Without that some more meaningful change could have happened.
- EpicEng 7y agoI do disagree with you.
- Retric 7y agoEdit: I seen 3 versions of that post so NM.
- trentlott 7y ago"I do not disagree with you at all."
- EpicEng 7y agoEdited my response to be less haughty :D
- EpicEng 7y agoI apparently screwed up on the edit, but only two versions. I do not disagree with you. I can no longer edit. I blame my phone and fat fingers. It's a mess now. The gist of my original comment was "I agree with you".
- Retric 7y agoThat’s fine, I must have miss read it the first time. Because I re read it noted the double negative and was editing it when I then saw the final version... ¯\_(ツ)_/¯
- droithomme 7y agoWindfall? People are hoping at best for a tiny fraction of the cost of actual damages. That's not a windfall. The only people getting a windfall are the class action attorneys. The actual victims get basically nothing.
- EpicEng 7y agoI think you interpreted what I said in the worst way possible, and again, it's incredibly difficult to prove damages. We all know they exist, but if you can prove them you don't need a class action.
- throwaway287391 7y agoIf it's meant to be punitive, shouldn't the full penalty amount get divided evenly among everyone who applies for the compensation, rather than being a fixed $6 per person who applies? Or does Equifax somehow end up losing the full penalty amount regardless (e.g. is the unclaimed amount paid to the government etc.)?
- EpicEng 7y agoIt depends on the settlement agreement, but they don't typically go back to the defendant. In this case, I found one source without looking up the actual agreement https://www.baynews9.com/fl/tampa/news/2019/07/26/what-happens-to-unclaimed-benefits-from-equifax-settlement https://www.baynews9.com/fl/tampa/news/2019/07/26/what-happe... >Any funds unclaimed after 4-year extension will be distributed in services >Services offered are for identity restoration, credit monitoring And those services are from... Equifax, which I feel is pretty shitty. Like I said, I don't like the settlement itself, but lawyers get a lot of hate for class actions from people who seemingly don't appreciate the risk they take in taking in the case.
- rblatz 7y agoI’m so so glad they took all that risk on so that I can get $6 while they get 80 million. Poor lawyers, so charitable of them. And who gave them the right to profit massively off the violation of my privacy. I should be able to sue them. This is not justice, this is profiteering off others misfortune.
- EpicEng 7y agoDesign a better system then, I don't know what to tell you. The lawyers didn't engineer this debacle.
- paulie_a 7y agoThey essentially stole my info and did nothing to protect can it. A corporate death penalty should exist and all assets seized including every paperclip This company should be "old yellered"
- EpicEng 7y agoI agree
- cma 7y agoIt isn't supposed to punish the claimants though. Filling out the form was worth less than the payoff. Better to just burn the settlement than to waste everyone's time trying to distribute it. Or give out $600 to every 1 out of 100 claimants based on a lottery instead of $6 to all.
- masonic 7y agoI opted out, hoping that another case would be pursued.