Thursday, June 18, 2015

ESTIMATE FOR PAYMENT OF CLAIMS

My current estimate of the earliest time when payments can be expected is 6 to 9 months from now. I did not agree with the estimate put on the settlement website in February, so that advice said it was the advice of the A/B counsel. They refused to put my view on the site, which at that time was 3 to 6 months beyond September of this year. I have been trying for two weeks to develop a new estimate with them, but so far no luck.

Trying to assign blame for delays would only lead to endless argument. None of the class counsel are doing anything to delay the progress. The main reason is that this is one of the most complicated settlements in class action history. It is really two settlements. One for the class members against the databases, and a second one in which the databases make claims against the publishers that gave them the class member works. There are approximately 1600 such publishers. A major step forward was taken in the last week when the databases agreed to not seek reimbursement from publishers that owe less than $10,000. That eliminated the need for about 900 reports, and amounted to the databases accepting around $400,000 of liability. But there are still round 600 that have to be prepared.

I will start posting here more frequently on progress and payment estimates.