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|1.||Why is there a notice?|
A Court authorized the notice because you have a right to know about a proposed Settlement of these class action lawsuits and about all of your options before the Court decides whether to give final approval to the Settlement. The notice explains the lawsuits, the Settlement, and your legal rights.
The lawsuits involved in the Settlement are Macias v. TD Bank, N.A., No. 16-cv-3420 (D.N.J.); Feinman v. TD Bank, N.A., No. 16-cv-3435 (D.N.J.); Luce v. TD Bank, N.A., No. 16-cv-2621 (D.N.J.); Filannino-Restifo v. TD Bank, N.A., No. 16-cv-2374 (D.N.J.); Diaz v. TD Bank, N.A., No. 16-cv-2395 (D.N.J.); Spector v. TD Bank, N.A., No. 16-cv-2682 (D.N.J); Krulan v. TD Bank, N.A., No. 16-cv-2919 (D.N.J.); McEnerney v. TD Bank, N.A., No. 16-cv-2918 (D.N.J.). Judge Jerome B. Simandle and Magistrate Judge Joel Schneider of the United States District Court for the District of New Jersey are overseeing the lawsuits. The people who filed the lawsuits are called the “Plaintiffs.” TD Bank, N.A. (“TD Bank”) is the “Defendant.”
|2.||What is this litigation about?|
The lawsuits challenge the accuracy of Penny Arcade coin-counting machines at TD Bank stores. The lawsuits claim that users of the machines did not receive the full value of the coins they deposited into the machines. The complaints in the lawsuits are posted under Court Documents on the Home tab and contain all the allegations and claims asserted against TD Bank. TD Bank denies any wrongdoing or liability but has agreed to settle the lawsuits to avoid the costs and risks of litigation.
|3.||What is a Penny Arcade machine?|
Penny Arcade was a coin-counting service provided at TD Bank Stores. Users deposited coins into the machine to be counted. The machine issued a receipt reflecting the counted amount. The user could redeem the receipt with a teller and either deposit the funds (if the user held a TD Bank checking, savings, personal loan, or business loan account (“Account”)) or receive cash.
|4.||Why is this a class action?|
In a class action, one or more people called “Class Representatives” (in this case, thirteen people and entities who claim to have used Penny Arcade machines) sue on behalf of themselves and other people with similar claims. Together, all the people with similar claims (except those who exclude themselves) are members of a “Settlement Class.”
|5.||Why is there a Settlement?|
The Court has not decided which side is right. Instead, both sides have agreed to a Settlement. By agreeing to the Settlement, both sides avoid the costs and uncertainty of a trial, and Settlement Class Members receive the benefits described in this notice. The proposed Settlement does not mean that any law was broken or that TD Bank did anything wrong. TD Bank denies all legal claims in this case. Class Representatives and their lawyers (“Class Counsel”) think the proposed Settlement is best for everyone who is affected.
|6.||What is the status of the settlement?|
The Settlement has been preliminarily approved by the Court and is awaiting final approval. The deadline for filing claims has passed, and we are now in the administrative phase of this matter which includes processing claims and working with claimants who have filed deficient claims.
|7.||Who is included in the Settlement?|
You are a member of the Settlement Class if you used a TD Bank Penny Arcade coin-counting machine to exchange coins for a credit to a TD Bank Account or for cash between April 11, 2010 and July 12, 2017 (that is, during the “Class Period”). The Court has excluded from the Settlement Class (1) anyone who was a TD Bank employee on the date the Court preliminarily approved the Settlement (July 12, 2017), (2) the lawyers for the named plaintiffs and TD Bank, and (3) the judges presiding over this case and their families.
|8.||I am/was a TD employee. Can I participate in the Settlement?|
The Settlement Class does not include anyone who was a TD Bank employee as of the date the Court preliminarily approved the Settlement (July 12, 2017). Even if you received a notice of the Settlement addressed to you, if you were employed by TD Bank on July 12, 2017, you are not a member of the Settlement Class, you cannot receive a payment from the Settlement, and the Settlement does not affect your rights.
|9.||What if I am not sure whether I am included in the Settlement?|
If you are not sure whether you are in the Settlement Class, or have any other questions about the Settlement after reviewing these FAQ's, call the toll free number, 1-855-312-1974. You may also send questions to the Settlement Administrator at email@example.com or Penny Arcade Settlement, c/o GCG, PO Box 10470, Dublin, OH 43017-4070.
|10.||What does the Settlement provide?|
If the Settlement is approved and becomes final, it will provide benefits to Settlement Class Members. TD Bank will pay $7,500,000 to establish a Settlement Fund. The Settlement Fund will be used to make payments to eligible Settlement Class Members, as well as covering up to $100,000 in litigation costs incurred by Class Counsel (see Question 20). TD Bank will also pay an award of attorneys’ fees, plus a special service payment to the thirteen Class Representatives who initiated the lawsuit (see Question 20). The attorneys’ fee and service awards will be in amounts to be determined by the Court, but the attorneys’ fee award may not exceed $1,935,000, and the service awards taken all together may not exceed $65,000. TD Bank will also pay costs associated with administering the Settlement. If there are any funds remaining in the Settlement Fund after the payments to Settlement Class Members and of Class Counsel’s litigation costs, all remaining funds will be distributed to a nonprofit organization or organizations agreed upon by Class Counsel and TD Bank and approved by the Court. Finally, TD Bank has agreed not to resume using the Penny Arcade coin-counting machines that are the subject of the Settlement to provide customer self-service coin-counting in TD Bank Stores.
|11.||How much will my payment be?|
Any payment you are eligible to receive will be calculated using a formula applied to the total dollar amount of any Penny Arcade transactions you conducted during the Class Period. If any Settlement Funds remain after the Settlement Administrator applies the formula to all Settlement Class Members who are entitled to payments, and after accounting for any court-awarded litigation costs, the Settlement Administrator will attempt to distribute remaining funds on a pro rata basis. Each class member’s exact payment cannot be determined now, but payments will be calculated by applying a multiplier of 0.26% (based on extensive third-party testing of machine accuracy) to identifiable class members’ Penny Arcade transactions during the Class Period, after which any additional amount in the fund will be added pro rata to each class member’s payment. This means payments to class members will likely be at least 26¢ per $100 exchanged using Penny Arcade during the Class Period. There is a limitation on the payment to a class member who did not hold an account at TD Bank at the time of the member’s Penny Arcade transaction, if the class member is unable to provide suitable documentation, in which case the calculation of the claim payment will be based on a maximum transaction amount of $500.00 (see Question 14).
|12.||When will I receive my payment?|
Settlement Class Members who are entitled to automatic payments and/or submit valid Claims will receive their payments, either by account credit or by check or other means of funds transfer, only after the Court grants final approval to the Settlement and after any appeals are resolved (see “The Final Approval Hearing” below). If there are appeals, resolving them can take time. Please be patient.
|13.||What am I giving up to stay in the Settlement Class?|
Unless you exclude yourself from the Settlement, you cannot sue TD Bank, or bring a claim against TD Bank through arbitration, or be part of any other lawsuit or arbitration against TD Bank about the issues in this case. (Arbitration is a process between consumers and businesses that uses a neutral person to resolve a dispute.) Unless you exclude yourself, all of the decisions by the Court will bind you. The Settlement Agreement is available under Court Documents on the Home tab and describes the claims that you give up if you remain in the Settlement.
|14.||How can I receive a payment?|
Payments will be made in two ways.
Settlement Class Members who conducted Penny Arcade transactions during the Class Period while they held a TD Bank Account will receive payments from the Settlement automatically, either as an account credit (if the Settlement Class Member still holds a TD Bank Account when payments from the Settlement are made) or in the form of a check or other means of funds transfer (if the Settlement Class Member no longer holds a TD Bank Account when payments from the Settlement are made).
If you are entitled to an automatic payment, you do not have to do anything in order to receive that payment. As long as you do not exclude yourself from the Settlement (see Question 18), the payment will be made automatically, either by a credit to your TD Bank Account or (if you no longer have a TD Bank Account) by check mailed to you at the address TD Bank has on file. Please contact the Settlement Administrator if you change your address.
The Claim Form deadline was October 27, 2017.
If your Claim is approved, payment will be issued to you by check mailed to the address listed on your Claim Form. Please contact the Settlement Administrator if you change your address.
|15.||How does TD Bank automatically know that I had an account when I used the Penny Arcade?|
TD Bank keeps records of customers’ account activity, including Penny Arcade transactions, and will provide those records to the Settlement Administrator to be used to identify customers who are entitled to receive automatic settlement payments.
|16.||Can I get an automatic payment and submit a Claim?|
If you conducted some Penny Arcade transactions during the Class Period at a time when you held a TD Bank Account and you conducted other Penny Arcade transactions during the Class Period at a time when you did not hold a TD Bank Account, it is possible to get an automatic payment (for transactions as an Account holder) and submit a Claim for a non-automatic payment (for transactions as a non-Account holder). However, you were permitted to submit a Claim only for those Penny Arcade transactions that you conducted when you did not hold an Account at TD Bank.
|17.||How do I submit a Claim for a non-automatic payment?|
The deadline to submit a Claim Form has passed. If you submitted a Claim, you also must have provided supporting information. For each Penny Arcade transaction for which you are asking for a payment, you must have provided: (1) the date of the Penny Arcade transaction, (2) the dollar amount of the Penny Arcade transaction, and (3) documentation sufficient to substantiate the Claim, if available. If you were unable to provide documentation to substantiate your Claim, your Claim Distribution, if any, will be calculated based on a maximum transaction amount of $500.00. The Settlement Administrator may also require you to provide additional documentation in order to receive payment.
You were permitted to submit a Claim only for Penny Arcade transactions you conducted during the Class Period at a time when you did not hold a TD Bank Account. Payments for Penny Arcade transactions conducted during the Class Period by Settlement Class Members who held TD Bank Accounts at the time the transactions occurred will be made automatically without any need to submit a Claim. Any Claim Form requesting a payment based on a Penny Arcade transaction conducted by a Settlement Class Member who held a TD Bank Account at the time of the transaction will not be considered. However, you were permitted to submit a Claim based on any Penny Arcade transactions conducted during the Class Period while you did not hold a TD Bank Account, even if you think you may also be entitled to an automatic payment for different transactions.
|18.||How will my Claim be decided?|
The Settlement Administrator will analyze your Claim and your supporting documents to confirm whether you are entitled to a payment. If your application is incomplete or does not establish that you are entitled to a payment, the Settlement Administrator will notify you to correct any problems with your Claim. If you fail to do so, your Claim will be denied. The Settlement Agreement provides more detail on how Claims will be decided.
|19.||What happens if my claim is filed incorrectly or if I do not provide adequate documentation?|
If your claim is deficient in any way, you will receive a deficiency notice that outlines the problem(s) with the claim and how to resolve them. If you wish to pursue your claim, you must follow the instructions in the notice. You may add documentation to or update your claim in order to cure the deficiencies. If you have specific questions regarding your deficiency notice or did not receive one and wish to check the status of your claim, please Contact Us.
|20.||Is there a cut-off date for deficiency responses?|
The letter that was sent to you provided a response due date. If you did not provide the information or necessary documents to cure your deficient claim by that date, but you still wish to pursue your claim and you believe you can provide the information to cure any deficiency, submit your response as soon as possible and we may be able to consider it. Please be advised, however, that there is no guarantee that late responses will be accepted.
|21.||How do I get out of the Settlement?|
The deadline to exclude yourself from the Settlement was October 27, 2017.
|22.||If I do not exclude myself, can I sue or bring an arbitration against TD Bank for the same thing later?|
No. Unless you excluded yourself, you give up the right to sue or bring an arbitration against TD Bank for the issues that the Settlement resolves (regardless whether you actually receive a settlement payment). You must have excluded yourself from the Settlement Class in order to try to maintain your own lawsuit or arbitration.
|23.||If I exclude myself, can I still get a payment?|
No. You will not get a payment or account credit if you excluded yourself from the Settlement.
|24.||Do I have a lawyer in the case?|
The Court has appointed several lawyers to represent all Settlement Class Members as “Settlement Class Counsel.” They include:
|Bruce H. Nagel Nagel Rice, LLP 103 Eisenhower Parkway Roseland, NJ 07068||Michael Criden Criden & Love, P.A. 7301 SW 57th Court, Ste 515 South Miami FL 33143||Stephen P. DeNittis DeNittis Osefchen Prince, P.C. Five Greentree Centre Suite 410 525 Route 73 N. Marlton, NJ 08053|
|Jeffrey Smith Wolf Haldenstein Adler Freeman & Herz, LLP 270 Madison Avenue New York, New York 10016||John Radice Radice Law Firm 34 Sunset Blvd Long Beach, NJ 08008|
You will not be charged for contacting these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.
|25.||How will the lawyers be paid?|
Class Counsel intend to request up to $1,935,000 in attorneys’ fees. These attorneys’ fees would be in addition to the Settlement Fund. Class Counsel will also request that special service payments of up to $65,000 be paid to the thirteen Class Representatives for their service as representatives on behalf of the whole Settlement Class. The fees and service payments will be paid by TD Bank, subject to the $2,000,000 maximum. The Court will decide the amount to award. In addition, the Parties have agreed that Class Counsel can ask the Court to award up to $100,000 of litigation costs. If the Court awards litigation costs to Class Counsel, those would be paid from the $7,500,000 Settlement Fund.
|26.||How do I tell the Court if I do not like the Settlement?|
The deadline to object to the Settlement was October 27, 2017.
The requirements to object to the Settlement are described in detail in the Settlement Agreement in paragraphs 82-83
|27.||What is the difference between objecting and asking to be excluded?|
Objecting is simply telling the Court that you do not like something about the Settlement. You can object to the Settlement only if you do not exclude yourself. Excluding yourself is telling the Court that you do not want to be part of the Settlement. If you exclude yourself, you have no basis to object to the Settlement because it no longer affects you.
The deadline to object to and/or exclude yourself from the Settlement was October 27, 2017.
|28.||When and where will the Court decide whether to approve the Settlement?|
The Court has scheduled a Final Approval Hearing on January 11, 2018. The Final Approval Hearing will be held at 1:30 P.M. at the United States District Court for District of New Jersey, Camden Vicinage, located at Mitchell H. Cohen Building & U.S. Courthouse, 4th & Cooper Streets, Camden, NJ 08101. The hearing may be moved to a different date or time without additional notice, so it is a good idea to check this website for updates. At this hearing the Court will consider whether the Settlement is fair, reasonable, and adequate. The Court will also consider any request by Class Counsel for attorneys’ fees, litigation costs, and service payments to Class Representatives. If there are objections, the Court will consider them at that time. After the hearing, the Court will decide whether to approve the Settlement. We do not know how long these decisions will take.
|29.||Do I have to attend the hearing?|
No. Class Counsel will answer questions the Court may have. But you are welcome to attend the hearing at your own expense. If you submitted an objection, you don’t have to come to Court to talk about it. As long as you submitted your written objection on time, to the proper addresses, and it complies with the other requirements described in paragraphs 82 and 83 of the Settlement Agreement, the Court will consider it. You or your attorney may appear at the hearing at your expense but it is not required.
|30.||May I speak at the hearing?|
You may ask the Court for permission to speak at the Final Approval Hearing. To do so, you must send a letter saying that you intend to appear and wish to be heard. Your letter must include the following:
Copies of your Notice of Intention to Appear, needed to be postmarked by October 27, 2017, to all three addresses listed in Question 21. You cannot speak at the hearing if you exclude yourself from the Settlement.
|31.||How do I get more information?|
This notice summarizes the proposed Settlement. More details are in the Settlement Agreement. For a complete, definitive statement of the Settlement terms, refer to the Settlement Agreement. You also may write with questions to the Settlement Administrator at Penny Arcade Settlement, c/o GCG, PO Box 10470, Dublin, OH 43017-4070 or call the toll-free number, 1-855-312-1974.