UPDATE: THERE HAVE BEEN THREE RECENT SETTLEMENT CHECK DISTRIBUTIONS. ON NOVEMBER 3, 2008, A.B. DATA REISSUED SETTLEMENT CHECKS TO CLASS MEMBERS WHOSE PREVIOUSLY ISSUED CHECKS WERE RETURNED TO A.B. DATA AS UNDELIVERABLE AND WHOSE ADDRESS INFORMATION HAD BEEN UPDATED AND/OR CONFIRMED PRIOR TO NOVEMBER 3, 2008.
ON JANUARY 13, 2009, A.B. DATA REISSUED CHECKS TO THOSE CLASS MEMBERS WHOSE PREVIOUSLY ISSUED CHECKS WERE OUTSTANDING AND WHOSE ADDRESS INFORMATION HAD BEEN UPDATED AND/OR CONFIRMED PRIOR TO NOVEMBER 3, 2008.
ON MARCH 25, 2009, A.B. DATA REISSUED CHECKS TO THOSE CLASS MEMBERS WHOSE CHECKS WERE PREVIOUSLY ISSUED, BUT NEVER RECEIVED, AND FOR WHOM A NEW ADDRESS HAD BEEN LOCATED OR PROVIDED.
As set forth in detail in the Settlement Agreement this suit was brought on behalf all individuals that entered into a rent-to-own contract with Rent-A-Center, Inc. (“RAC”) in the State of New Jersey from April 23, 1999, through March 16, 2006.
THE SETTLEMENT: The Settlement Fund provided approximately $109 million to fully compensate Class Members based on interest they paid in excess of limits established by the laws of the State of New Jersey. The payment provided was determined by the amount of interest paid under the rent-to-own contract(s) with RAC, as reflected in RAC's records. After the payment of attorneys' fees and costs, the recovery was sufficient to pay Class Members all of the alleged overcharges.
STATUS OF THE CASE The postmark deadline for exclusion requests and objections was September 4, 2007. A hearing was held on September 14, 2007, wherein the Court approved the Settlement, attorneys’ fees and expenses. Settlement check distributions took place in November 2007 and February 2008. In addition, there have been two recent settlement check distributions. On November 3, 2008, A.B. data reissued settlement checks to class members whose previously issued checks were returned to A.B. Data as undeliverable and whose address information had been updated and/or confirmed prior to November 3, 2008. On January 13,2008, A.B. Data reissued checks to those class members whose previously issued checks were outstanding and whose address information had been updated and/or confirmed prior to November 3, 2008. A subsequent distribution is forthcoming for those class members who have updated their address information subsequent to November 3, 2008.
For more details, call toll-free 866-963-9974, or write to: Seth R. Lesser, Esq. at Klafter Olsen & Lesser, LLP, 1311 Mamaroneck Avenue, Suite 220, White Plains, NY 10605; Mark R. Cuker, Esq. at Williams Cuker & Berezofsky, One Penn Center at Suburban Station, 1617 J.F.K. Boulevard, Suite 800, Philadelphia, PA 19103; or William Riback, Esq. at Law Office of William Riback, 527 Cooper Street, 2nd Floor, Camden, NJ 08102. Alternatively, you may submit written questions to info@abdataclassaction.com.