clASS Action

Today I received a notice of another class action suit. This time it was for a rental car company’s surcharges. And there is the usual part of the notice saying that if I want to be a part of the settlement, I should do nothing (but wait). I guess they got my name from the rental car company since I was never asked to fill out any forms. This happens a lot with suits for stuff you have bought.

Yesterday, I tore up an old $1 check from a class action settlement (check was too old to cash) from a package handling company. A dollar.

About two weeks ago, I got a notice of a pending settlement on another class action suit against a company that makes computer printers, among other things. The settlement I will get, if it’s settled, is $30 if I buy stuff on their online store (or about $15 if I want cash).

And then there are the class action suits against some of the companies whose officers are alleged to have misled stockholders about value of the company in a merger, accounting practices, etc. In order to participate, you have to prepare all sorts of documents and proof of stock ownership. Settlements there are better than nothing, but are a pittance.

So, I get $1 here, $30 there, a few bucks elsewhere.

And who brings these suits, anyway?

And who benefits? You KNOW the answer to that.