FAQs Milgram v Chase Bank USA N A Frequently by liwenting

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									                                   Milgram v. Chase Bank USA, N.A.

                                        Frequently Asked Questions


Contents
Why did I receive a notice in the mail about this case? ...................................................... 1
What is a class action lawsuit and what is this lawsuit about? ........................................... 1
Why is there a settlement? .................................................................................................. 2
Who is included in the settlement? ..................................................................................... 2
What does the settlement provide? ..................................................................................... 2
How do I receive my share of the settlement? .................................................................... 3
How can I exclude myself from the Settlement Class? ...................................................... 3
How can I object to the settlement? .................................................................................... 3
What is the effect of final settlement approval? ................................................................. 4
When and where will the Court hold a hearing on the fairness of the settlement?............. 5
What happens if I do nothing at all? ................................................................................... 5
Where do I get additional information? .............................................................................. 5
What are the important dates to remember? ....................................................................... 5



Why did I receive a notice in the mail about this case?
You received a notice because you may be a Class Member who is or was a Chase credit card account
holder and accepted a promotional check or balance transfer offer, sent by Chase between January 15,
2006 and February 28, 2010, with a promotional interest rate stated in the offer as effective “until your
[Month/Year] statement opening date” and, after acceptance, you incurred finance charges on the resulting
promotional balance at a non-promotional rate because of expiration of the promotional interest period. Top



What is a class action lawsuit and what is this lawsuit about?
A class action is a lawsuit in which one or more plaintiffs (in this case, Arkady Milgram, the "Plaintiff") sue on
behalf of themselves and other people or companies who have similar claims. Here, the Plaintiff decided to
settle the claims against the Defendant on behalf of all members of the Settlement Class by entering into a
written settlement agreement entitled "Stipulation and Agreement of Settlement." The companies on whose
behalf the settlement has been made are called "Class Members."

The Settlement has already been preliminarily approved by the Court. Nevertheless, because the Settlement
of a class action determines the rights of all members of the class, the Court in which this lawsuit is pending
must give final approval to the Settlement before it can be effective.

The Court has conditionally certified the Settlement Class for Settlement purposes only, so that members of
the Settlement Class can be given Notice and the opportunity to exclude themselves from the Settlement
Class, voice their opposition to final approval of the settlement, and explain how those who do not exclude
themselves from the Settlement Class may receive relief offered by the settlement. If the settlement is not
given final approval by the Court, or the Parties terminate it, the Settlement will be void, and the lawsuit will
continue as if there had been no Settlement and no certification of the Settlement Class.

In this case, the Plaintiff is Arkady Milgram. The defendant is Chase Bank USA, N.A. Together the Plaintiff
and Defendant are referred to herein as the "Parties."

Defendant, Chase Bank, offered certain cardholders a promotional annual percentage rate on balance
transfers and short term convenience check loans until a specified “statement opening date.” Plaintiff filed a
complaint on January 15, 2010 against Chasealleging that that the promotional check and balance transfer
offers sent by Chase did not adequately inform consumers when the promotional interest rate would cease
to apply. Defendants denies all wrongdoing. The parties agreed to a mediation occurring on June 25, 2010
in which a settlement framework was agreed upon. An agreement between the Parties was reached and on
July 6, 2011, the Honorable Judge George H. Wu preliminarily approved the settlement. Top



Why is there a settlement?
The Court has not decided in favor of either side in the case. Defendant denies all allegations of wrongdoing
or liability against itself and contends that its conduct was lawful. Defendant is settling to avoid the expense,
inconvenience, and inherent risk of litigation, as well as the related disruption of its business operations.
Plaintiff and Plaintiff’s attorneys believe that the settlement is in the best interests of the Settlement Class
because it provides an appropriate recovery for Settlement Class members now while avoiding the risk,
expense, and delay of pursuing the case through trial and any appeals. Top



Who is included in the settlement?
The class covered by the settlement is defined as follows: All Chase cardmembers nationwide who accepted
a promotional check or balance transfer offer, sent by Chase between January 15, 2006 and February 28,
2010, with a promotional interest rate stated in the offer as effective “until your [Month/Year] statement
opening date” and who, after acceptance, incurred finance charges on the resulting promotional balance at a
non-promotional rate because of expiration of the promotional interest period (rather than because of the
cardmember’s non-payment, late payment or any other breach or violation of the cardmember’s agreement
with Chase). Top



What does the settlement provide?
Defendant will pay not less than $6,000,000 and not more than $7,800,000 to 1) pay the costs of notice and
administering settlement, 2) pay counsel for Settlement Class attorneys’ fees and litigation expenses and to
pay a service/enhancement award to Plaintiff, 3) make Direct Payments and Claim Payments to Settlement
Class Members, and 4) pay any residual balance of the Settlement Fund, if any, to a charitable organization
or organizations.

If you are a member of the Settlement Class and you choose to stay in the Settlement Class, you may
receive cash:

1. Settlement Class members who paid in full their promotional credit card balances during the disputed
month will receive a payment of $12. If the class member received a postcard informing them that they are
entitled to $12 and their account is in good standing, then they do not need to take any further action to
receive money.

                                                      - OR -
2. Other Settlement Class Members are eligible to claim a maximum of $8 per account from the Settlement
Fund, which may be reduced pro rata based on the number of valid claims. If they received a postcard
informing them that they need to submit a claim in order to receive $8, they must complete, sign, and return
the claim form to the Settlement Administrator or file their claim electronically by visiting
www.milgramsettlement.com and clicking on “File a Claim.” Top



How do I receive my share of the settlement?
You can file a claim form online by clicking HERE. You can also get a claim form by writing to the Settlement
Administrator at: Milgram v. Chase Bank Settlement Administrator, c/o Gilardi & Co. LLC, P.O. Box 808061,
Petaluma, CA 94975-8061. Your claim must be postmarked or completed online by November 3, 2011.

Claims submitted by mail must be sent to the Settlement Administrator at: Milgram v. Chase Bank
Settlement Administrator, c/o Gilardi & Co. LLC, P.O. Box 808061, Petaluma, CA 94975-8061, and
postmarked by November 3, 2011.

Claims submitted electronically must be submitted online through the settlement website at
www.milgramsettlement.com, by November 3, 2011. Top



How can I opt-out from the Settlement Class?
You can get out of the settlement and the Settlement Class by "excluding" yourself. If you exclude yourself,
you won't be able to submit a claim form, and you won't be entitled to claim any of the relief offered by the
settlement. If you choose to exclude yourself from the Settlement Class, you may pursue whatever legal
rights you may have in any separate proceeding if you choose to do so, but you will have to do so at your
own expense.

To exclude yourself from the Settlement Class, you must send a letter saying that you want to be excluded
from the class in Milgram v. Chase Bank, USA, N.A., Case No. 10-00336 GW (PJWx). Your exclusion
request must include your name, address, last four digits of your Chase credit card account number(s), a
sentence certifying that you are a Settlement Class Member, and a signed statement to the effect that: "I
request to be excluded from the class settlement in Milgram v. Chase Bank, USA, N.A., United States
District Court, Central District of California, Case No. 10-00336 GW (PJWx)." Your exclusion request must
be postmarked no later than October 19, 2011 and sent to the Settlement Administrator at the
following address : Milgram v. Chase Settlement Administrator, c/o Gilardi & Co. LLC, P.O. Box 8090,
San Rafael, CA 94912-8090.

A request for exclusion that does not include all of the above information, that is sent to an address other
than the one listed above, or that is not received on time, will not be valid and the person(s) asking to be
excluded will be considered a member(s) of the Settlement Class, and will be bound as class member(s) by
the Settlement. Top



How can I object to the settlement?
If you do not exclude yourself from the Settlement Class, you or your attorney can object to the settlement
and have the right to appear before the Court to do so. Send copies of your objection to the settlement to the
attorneys for the Parties at the following addresses:
Counsel for Plaintiff:                   Counsel for Chase:

Drew Pomerance, Esq.                     Julia B. Strickland, Esq.
Roxborough, Pomerance, Nye &             Stroock & Stroock & Lavan LLP
Adreani, LLP                             2029 Century Park East
5820 Canoga Avenue                       Los Angeles, CA 90067
Woodland Hills CA 91367-6549

The objection must include (1) your name, address and telephone number; (2) the last four digits of your
Chase credit card account number(s); (3) a sentence certifying that you are a Settlement Class Member; (4)
the factual basis and legal grounds for your objection; (5) the identity of any witnesses whom you may call to
testify at the Final Fairness Hearing; and (6) copies of any exhibits you intend to offer into evidence at the
Final Fairness Hearing.

If you do not submit a written comment on the proposed settlement or the application of Plaintiffs' counsel for
incentive awards and attorneys' fees and expenses in accordance with the deadline and procedure set forth
above, and you are not granted relief by the Court, you will waive your right to be heard at the fairness
hearing.

If you do not object as described in the notice, and you do not exclude yourself from the Settlement Class,
you will be deemed to have consented to the Court's certification of, and jurisdiction over, the Settlement
Class, and to have released the Released Claims (defined in the Settlement Agreement). Top



What is the effect of final settlement approval?
If the Court grants final approval to the settlement, the Court will enter a final order and judgment, and
dismiss the Litigation with prejudice. Claim forms and payments under the settlement will then be processed,
and any relief due will then be distributed. Also, the release by Settlement Class Members will take effect. If
the settlement receives final approval from the Court, the settlement will be legally binding on all Settlement
Class Members, including Settlement Class Members who object. If you, or someone acting on your behalf,
are currently litigating claims against Chase or other released parties, you will be barred from pursuing the
claims released by the settlement unless you validly “opt out” as described above. The full terms of the
release, which will bind all Settlement Class Members as to certain claims against Chase and certain
affiliates and related entities, are set forth in the Agreement which is on file with the Court and available
online at www.milgramsettlement.com. In summary, you will release all Claims that were alleged (or that
could have been alleged based on the same or similar facts and circumstances) in the Milgram Lawsuit or
the Amended Complaint. IN SUMMARY, YOU WILL NOT BE PERMITTED TO FILE OR CONTINUE ANY
LAWSUIT CHALLENGING WHEN A PROMOTIONAL INTEREST RATE EXPIRES OR SEEKING TO
RECOVER INTEREST PAID DUE TO THE EXPIRATION OF A PROMOTIONAL INTEREST RATE. Any
and all members of the Settlement Class, who do not exclude themselves from the Settlement Class,
will not be permitted to continue to assert released claims in any other litigation against Defendants or other
persons and entities covered by the release. You can obtain a copy of the Settlement Agreement by writing
to the Settlement Administrator at: Milgram v. Chase Bank Settlement Administrator, c/o Gilardi & Co. LLC,
P.O. Box 808061, Petaluma, CA 94975-8061. If you do not wish to be a Settlement Class member, you
must exclude yourself from the Settlement Class.

If the settlement is not approved, the case will proceed as if no settlement had been attempted. There can
be no assurance that if the settlement is not approved and litigation resumes, the Settlement Class will
recover more than is provided for under the settlement, or will recover anything. Top
      When and where will the Court hold a hearing on the fairness of
      the settlement?
      A final fairness hearing has been set for November 22, 2011, at 8:30 a.m., PST, before the Honorable
      George H. Wu in his courtroom at the United States District Court, Central District of California, 312 Spring
      Street, Courtroom #10, Los Angeles, CA 90012. Top



      What happens if I do nothing at all?
      If you do nothing, you will receive no payment from the settlement. You will still be part of the Settlement
      Class, however, and subject to the release described in Paragraph 6.1 of the Settlement Agreement; this
      means you will not be permitted to continue to assert released claims in any other litigation against
      Defendant or other persons and entities covered by the release. Please refer to Paragraph 6.1 of the
      Settlement Agreement for a full description of the claims and persons that will be released upon final
      approval of the settlement. Top



      Where do I get additional information?
      For more detailed information or to view the Settlement Agreement you can write to the Settlement
      Administrator at the following address: Milgram v. Chase Bank Settlement Administrator, c/o Gilardi & Co.
      LLC, P.O 808061, Petaluma, CA 94975-8061, or click HERE. You may also call the Settlement
      Administrator at 1-877-215-7623.The Settlement Agreement and all other pleadings and papers filed in the
      Litigation are available for inspection and copying during regular business hours at U.S. District Court,
      Central District of California, 312 Spring Street, Los Angeles, CA 90012. Top



      What are the important dates to remember?

Case Relevant Event                                                                       Date
A Claim Form must be postmarked or filed online by                                        November 3, 2011
An Exclusion must be postmarked on or before                                              October 19, 2011
An Objection must be postmarked or delivered to the parties no later
                                                                                          October 19, 2011
than
                                                                                          November 22, 2011 at 8:30
The Final Fairness Hearing is
                                                                                          a.m.

      Top

								
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