Paypal Class Action Settlement

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gavelA lot of eBay users have been receiving e-mails over the last few weeks regarding the settlement of a class-action lawsuit against Paypal.  Here is some of the pertinent information from the settlement e-mail:

A settlement has been reached in a class action in which the plaintiffs allege, among other things, that PayPal improperly handled disputed transactions on PayPal accounts and improperly placed holds and reserves on accounts or closed or suspended accounts. Plaintiffs also allege that PayPal failed to provide annual error-resolution notices and monthly account statements under the Electronic Fund Transfer Act.

You are a member of the Settlement Class if you had an active PayPal account between April 19, 2006 and Nov. 5, 2015. Certain Settlement Class Members who had a hold or reserve placed on their account and/or who had their account closed or suspended by PayPal are eligible to receive a monetary payment upon submission of a valid claim form.

This is sure to affect many many eBay and Paypal users.  Message boards over the years are full of people talking about getting their account suspended from Paypal for various transactions.  If you had your account closed or suspended or if you have had a Paypal hold or reserve placed on your account you can go to the settlement website to put in a claim.

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