Pay Pal class action suit..is it a scam?

[furluvcats]

Did anybody else recieve an email in their box reguarding a Pay Pal class action suit? I got one today and I'm thinking its a scam and wondered if anyone else got this, and where does Ducky go to varify everything? I don't want to be a part of this law suit, and it sounds like I have to do something to take my name off the list...I'd appreciate any help on this matter...

[yoda]

Hmm. let me go check my email furluvcats.

[therock1811]

Duck snopes it...I think it's http://www.snopes.com.

[TexasStooge]

My mom received that piece of mail in her e-mail.

[j]

pay pal is notorious for getting scammed. As with E Bay, I think you can forward (not reply) the e-mail to their website and find out if its legit.

This is a response I got from e-bay after forwarding them a suspicious e-mail just for reference:

Hello,

Thank you for contacting eBay's Trust and Safety Department about email
solicitations that are falsely made to appear to have come from eBay.
These emails, commonly referred to as "spoof" messages, are sent in an
attempt to collect sensitive personal information from recipients who
reply to the message or click on a link to a Web page requesting this
information.

The email you reported did not originate from, nor is it endorsed by,
eBay. We are very concerned about this problem and are working
diligently to address the situation. We are currently investigating the
source of this email to take further action. You may rest assured that
your account standing has not changed and that your listings have not
been affected.

We advise you to be very cautious of email messages that ask you to
submit information such as your credit card number or your email
password. eBay will never ask you for sensitive personal information
such as passwords, bank account or credit card numbers, Personal
Identification Numbers (PINs), or Social Security numbers in an email
itself. If you ever need to provide information to eBay please open a
new Web browser, type http://www.ebay.com, and click on the "site map" link
located at the top of the page to access the eBay page you need.

If you have any doubt about whether an email message is from eBay,
please forward it immediately to spoof@ebay.com and do not respond to it
or click on any of the links in the email message. Please do not change
the subject line or forward the email as an attachment.

If you entered personal information such as your password, social
security number or credit card numbers into a Web site based on a
request from a spoofed email, you need to take immediate action to
protect your identity. We have developed an eBay Help page with valuable
information regarding the steps you should take to protect yourself.

[GalvestonDuck]

Nope, it's true. Kinda like the CD settlement thing last year.

[Guest]

Yes this is true. I've been discussing it in detail with my friends over at some other forums. If you opened your paypal account from Oct 1999 thru January 2004, you may be entitled to receive a payment. Here's where the particulars are listed: https://www.paypal.com/settlement The page is slow to load.

Pretty much if you had a problem when submitting a Buyer Complaint, those are the people entitled to payment. You just have to fill out a claim form. It also seems like they have some sort of Statutory Fund set up that is payable to anyone who is a member of the class, but you have to fill out a claim form to receive payment for this. Keep in mind this is a tentative agreement, this is awaiting approval from a judge later this year (I think November).
...Jennifer...

[furluvcats]

Thanks for the info Jen...so if I just ignore it...I won't be included in the suit?

[Guest]

You'll be remain in the class if you do nothing. By staying a member of the class, you will lose your right to sue them over any problems you may have had with their Buyer Complaint Policy between 1999 and 2004. Here's what you have to do if you want to be exluded:

9. WHAT IF I WANT TO EXCLUDE MYSELF (OPT-OUT) FROM THE SETTLEMENT?
If you do not want to remain a member of the class and participate in the settlement, then you must mail or deliver (email is not considered adequate), such that it is RECEIVED on or before September 7, 2004, (1) an original written, signed request for exclusion to Co-Lead Counsel at the following address:

Co Lead Counsel:
PayPal Class Action Settlement
A. J. De Bartolomeo
Girard Gibbs & De Bartolomeo LLP
601 California Street, Suite 1400
San Francisco, California 94108
and (2) a copy of the written signed request to PayPal's counsel at the following address:

PayPal's counsel:
PayPal Class Action Settlement
Morgan Lewis & Bockius LLP
One Market
Spear Street Tower
San Francisco, California 94105
This request for exclusion must contain your name and address; be signed by you; and include the reference "In re PayPal Litigation, Case No. CV-02-1227-JF (PVT)."

If you exclude yourself from the class, you will not participate in the settlement and cannot receive any payment from the settlement. Your claims will not be released.