Update re Group 2 of the TU Litigation
1. On 9/8/11, the judge approved the Grp 2 settlements for payment

2. Then on 9/22/11, a grp of lawyers filed an appeal in connection with the judge’s order and, as a result, thus causing an appeal to the Seventh Circuit Court of Appeals defending the judge’s order

3. To date [12/28/11]the Seventh Circuit had not issued a briefing schedule in connection with the appeal, so case is on hold, awaiting a briefing schedule

4. When the Seventh Circuit issues a briefing schedule, we could have a decision in 9 to 18 months

5. The wide time frame depends on which judges hear the appeal and the time required for them to issue an opinion

6. The firm will vigorously defend the Judge’s order approving the Grp 2 settlements for payment. They say they will not get paid until we get paid, so “we’re all in this together”

7. The federal courts can be slow to grind out justice, and the firm is powerless to push them; of course, the firm appreciates our patience, they’ve spent thousands of hours and millions of dollars on the case, so they’re committed to victory

8. They will provide you another update in the spring, as the appeal gets underway

http://docs.justia.com/cases/federal/district-courts/illinois/ilndce/1:2000cv04729/98269/873/0.pdf

I think it’s time to figure out how to start a class action suit against the class action attorneys, the biggest obstacle will be filing the suit without the aid of a class action lawyer.

I listed several reasons, but one was because I think these class action suits need several people to gain momentum and start up, but then they want to weed out as many people as they can so they don’t have as many people to split a settlement with. The offer of $443 is tremendous, considering most settlements I’ve ever seen or received (which, by the way did not require any answering emails or providing so much information to them) have only been about $2-3 and some change. However, if I remained in the class without the settlement, I stand to possibly get much more. Of course, I also risk getting nothing.

I was concerned that even if I did respond immediately, out of the possible millions of clients represented, I may not be one of the Group 1 people, and I did not want to end up in Group 2 and get nothing but a thank you for being on our list to get this suit started.

Those of you who received $200 or so should feel lucky you got anything at all, but you were screwed because as I remember reading the email, it was supposed to be a $443 minus their cost to file on your behalf (about $31). So you should have received $412.

Anyway, after submitting my reasons for my rejection, I have heard nothing at all. I expect the lawyers and about the initial six or so people who started the suit will split millions. Most of us were just names on a list to allow the action to happen and will not see a penny. As I said, if you’ve received a couple of hundred bucks, you should feel d— lucky about it.