Hmm.. I wonder how Netflix stock is doing right now. I happen to like Netflix, I don’t like the new interface but I like the service. Wal-Mart on the other hand, I can’t stand, I think I’ve been in one maybe 5 times in the last 10 years, and every time it just wasn’t a nice experience. Anyway there’s a class action lawsuit against both Wal-Mart and Netflix involving the price of online DVD rentals and seeks money for current and former Netflix subscribers. So if you were renting DVDs from Netflix from may 2009 until September 2011, you might be eligible for some cash!! The whole thing is below for your perusal..
The following is being released by Kinsella Media, LLC, the court-approved notice provider for the Online DVD Rental antitrust litigation.
There is a lawsuit and a proposed settlement of a class action that involves consumers who paid a subscription fee to rent DVDs online from Netflix anytime from May 19, 2005 to September 2, 2011. The lawsuit against Wal-Mart and Netflix involves the price of online DVD rentals and seeks money for current and former Netflix subscribers. A Settlement has been reached with Wal-Mart. Netflix and Wal-Mart believe that the lawsuit has no basis. Netflix has not settled the lawsuit and the litigation continues against it. The lawsuit claims that Wal-Mart and Netflix reached an unlawful agreement under which Wal-Mart would withdraw from the online DVD rental market and Netflix would not sell new DVDs. Wal-Mart and Netflix deny that they entered into such an agreement or that they have done anything wrong, that the Plaintiffs have been harmed in any way, or that the price of online DVD rentals was raised or inflated by any agreement between Wal-Mart and Netflix. The Court has not decided who is right.
The Netflix Litigation
Netflix has not agreed to a settlement. There is no money available from Netflix now and no guarantee that money will be available in the future, it depends on the outcome of a trial or settlement with Netflix.
Consumers who wish to remain in the litigation against Netflix do not need to do anything right now. Consumers who wish to keep their individual right to sue Netflix about these claims must exclude themselves in writing postmarked by February 14, 2012 .
The Wal-Mart Settlement
Wal-Mart is not admitting that it did anything wrong, but has agreed to a Settlement to avoid the cost of further litigation. The Settlement provides $27,250,000 in gift cards and cash to consumers who paid for a Netflix subscription. Consumers who submit a valid claim form may receive a Walmart.com gift card or a cash payment. The amount paid to consumers will vary depending on the total number of valid claims received.
In order to receive a payment, consumers must file claims by February 14, 2012 . Claim Forms can be submitted online or by mail. Consumers who do not wish to remain in the Settlement must request to be excluded from the Wal-Mart Settlement in writing postmarked by February 14, 2012 . Consumers who exclude themselves from the Netflix Litigation and the Wal-Mart Settlement retain the right to sue Wal-Mart on their own. Consumers may object to or comment on the Settlement in writing postmarked byFebruary 14, 2012 .
The Court will hold a hearing on March 14, 2012 to consider whether to approve the Settlement, and a request for attorneys’ fees, cost, and expenses. Consumers are encouraged to visitwww.OnlineDVDclass.com or call 1- 877-389-4469 to get more information about the litigation, and Settlement, or to get a Claim Form.