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Netflix Wal-Mart Class Action Lawsuit Settlement How Much Do I Get?
Do You Use Netflix Movie Service?
If you do then you may be interested to know that there is a lawsuit and settlement against Netflix and Wal-Mart Stores. The lawsuit pertains to the price of online DVD rentals and a secret agreement between the two companies which leads to price fixing.
Although both Netflix and Wal-Mart deny the claim, the lawsuit states that Wal-Mart and Netflix made a secret agreement where Wal-Mart would not start up an online DVD rental service and Netflix agreed not to sell DVDs. If the facts are true, then by eliminating the potential competition between the two companies would force the price of DVD sales and rentals to go down. The two companies allegedly made this agreement so that they would not have to compete in the related fields. If this is true then the companies have broken the law and will lose their case. If they loose the case then eligible claimants will be eligible to receive financial compensation.
Who Is Eligible To Receive Compensation?
If you are or were a Netflix Subscriber between May 19, 2005 and September 30, 2010 and paid a subscription fee then you are a party to the Litigation Class against Netflix. The agreement made between the two super companies is deemed illegal by Federal Law. If the case which has been dismissed in court is overturned (it is now in appeal), then the class will receive benefits from the judgement. You must take appropriate action in a timely manner to be included in the class settlement.
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How Much Money Is Involved In The Suit and What Are My Rights As a Claimant?
Wal-Mart will pay $27,250,000 USD in either Cash or Gift Cards (you can choose your desired option). If you choose the Gift Card you can only use it at Wal-Mart's Website. The actual amount to be awarded to each claimant will depend on how many claimants there are; the monies will be divided evenly.
There are also legal fees that will be paid from the settlement including:
- Up to 25% in Attorneys' Fees
- Additional Costs Up to $1.7 million
- Administration Costs
- $5,000 for each Class Representatives (Up to $80,000)
After all fees are awarded the remaining balance shall be divided among valid claimants.
Your Rights as a Claimant:
- You can choose to Remain in the Settlement Class to receive benefits should the case be won. If you choose this option, you Must File a Claim. (See instructions below).
- You can choose to Get Out of the Settlement Class so that you have the right to sue Wal-Mart personally. You must exclude yourself by February 14, 2012 from both the Wal-Mart Settlement Class and the Netflix Litigation Class.
- You can choose to remain in the Settlement class and Object. You must object to it by February 14, 2012.
How Do I File a Claim or Get More Information?
If you are an eligible candidate for the reward in the settlement then you should have received notice in the mail. If you have not received notice but feel that you are eligible, you can do the following:
- Call 1-877-389-4469
- Visit The Claimant Website
- Mail to: Netflix Lawsuit, PO Box 2602, Faribault, MN 55021-9602
There will be a hearing held on March 14, 2012 to consider to approve or deny the settlement and to access related fees. You have the right to appear in person or to have an attorney appear on your behalf. Visit the website for more details.