Taylor v. TimePayment Corp., No. 3:18-cv-00378-MHL-DJN, Doc. 60 (E.D. Va. Oct. 29, 2019)
John Taylor (“Class Representative”) sued TimePayment Corp. (“Defendant”) alleging that the company offered Consumer Equipment Leases to consumers that contained improper disclosures under the Consumer Leasing Act and Truth in Lending Act regarding the payments and charges owed under those agreements. The parties have reached a class action settlement in this case.
The ”Class” is comprised of all persons (a) with an address in the United States (b) who signed a Consumer Equipment Lease or had a payment obligation with TimePayment Corp. thereunder (c) between June 1, 2017 and January 31, 2019.
Defendant will establish a settlement fund of $175,000 for the benefit of the Class and will no longer use the form Consumer Equipment Lease at issue in this case. Class members who submit timely, valid claims (all potential Class members were sent a claim form at their last known address) will receive an equal share of the settlement fund, after deducting the costs of class notice and administration and a $1,000 service award to the Class Representative, subject to Court approval. It is estimated that each participating Class member will receive between $15 and $30, depending on the number of Class members who submit timely, valid claims. In addition, and separate from the fund, Defendant will pay, subject to approval by the Court, reasonable attorneys’ fees, costs, and litigation expenses of up to $210,000 to counsel for the Class Representative and the Class.
Please note that this settlement does not affect the validity of your Consumer Equipment Lease agreement with Defendant. You are still responsible for the remaining payment obligations outlined in that agreement, if any.
The Court held a final fairness hearing on February 21, 2020, at 11:00 a.m. The Court granted final approval to teh settlement on February 24, 2020.
Relevant case materials are linked below, including the operative complaint in this case, the parties’ class action settlement agreement, and a copy of the class notice that further explains your rights and benefits under the agreement.
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