Overview Of The Proposed Settlement
GREENE, ET AL. V. GEORGIA CASH AMERICA, INC., ET AL.,
CIVIL ACTION FILE NO. 2004A 7104-6
This Action involves allegations by Georgia consumers who obtained a Payday Loan of $3,000 or less from Defendants (Georgia Cash America, Inc., Cash America International, Inc. and Daniel R. Feehan) from October 9, 2001 through April 1, 2006. Plaintiffs say that Defendants made improper Payday Loans and charged interest and fees on these loans at amounts higher than the law allows. Defendants deny they did anything wrong, say they did not make the Payday Loans at issue, and say the Banks that made the Payday Loans were allowed to make the loans under federal laws.
What Does The Settlement Provide?
For Class Members who submitted a timely claim and repaid all or a portion of the fees or interest charged on the Payday Loan(s), Defendants have agreed to provide Settlement Relief of three times the Actual Damages incurred by Eligible Settlement Class Members. Actual damages include all the interest and fees that were repaid on the Payday Loan(s), subject to a reduction if the total of all claims submitted exceed the Maximum Settlement Fund amount of $36,000,000.
The Settlement avoids costs and risks from continuing the lawsuit, pays Actual Damages to Eligible Settlement Class Members who submitted claims, and avoids further litigation and potential appeals.
|YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT:|
|SUBMIT A CLAIM FORM||The deadline to submit a claim was January 14, 2014.|
|OBJECT||The deadline to object was December 30, 2013.|
|GO TO A HEARING||The deadline to file a Notice of Intention to Appear was January 2, 2014.|
|DO NOTHING||Lose the opportunity to submit a claim to obtain Settlement Relief if the Settlement is approved by the Court and waive your right to pursue any claims separately.|
Please consult the Notice for more details on your options.
The Court held a Fairness Hearing at 9:00AM on January 16, 2014, in Courtroom 4C at the State Court of Cobb County Georgia Courthouse, located at 12 E Park Square in Marietta, Georgia. At this hearing, the Court granted final approval to the Settlement.