Is there really a class action law suit against Paypal & Ebay? Please check this

  • Thread starter Thread starter luvpudin
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luvpudin

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out and tell me? Ok, I got an email stating this (summarized):

You may be eligible to receive a benefit from a class action settlement if you funded a PayPal transaction using a source other than your credit card between February 1, 2004 and the present.

A federal court has directed that this notice be sent to inform you of a proposed class action settlement. Records show that you may be eligible to receive a benefit under the proposed settlement.

The settlement will resolve a lawsuit against eBay Inc. and PayPal, Inc. (collectively, "Defendants") involving claims arising out of representations in the PayPal User Agreement regarding PayPal's policies and practices for responding to refund requests from those customers who pay for transactions through PayPal using funds from funding sources other than credit cards. Under the settlement, Defendants have agreed to establish a settlement fund of $3.5 million to pay claims to potential class members. The proposed Class is defined as:
all U.S. based PayPal account holders who funded a PayPal transaction after February 1, 2004, using a source other than a credit card: (i) who subsequently requested a reversal of the transaction through PayPal's prevailing Buyer Complaint Policy and/or Buyer Protection Policy (collectively, "Policies"); (ii) who did not receive a refund equal to 100% of their transaction payment in response to such request from PayPal or their bank; and (iii) who, through the timely submission of a Claim Form under oath, attest to a reasonable and good faith belief that they would have received a full reversal of such payment had they used a valid credit card in their possession at the time of the subject transaction to fund the payment and filed a timely chargeback request with their credit card issuing bank. Excluded from the Class are any judicial officer to whom this Litigation is assigned; PayPal, eBay and any of its affiliates; any current or former employees, officers, or directors of PayPal or eBay; any Persons currently residing outside of the United States; and, all Persons who timely and validly request exclusion from the Class pursuant to the Notice.

said to visit http://www.steelesettlement.com

Is this for real, or is it some sort of fraud to steal information?

Any help is great!
 
It wouldn't surprise me, if you do a google search of paypal there are sites dedicated to outing them as being fraudaulant. I personally use paypal through ebay but would never use it for a big ticket item. Paypal states in their user agreement that they can basically take and keep all the money in your accunt for any reason they deem necessary. There are lots of stories of paypal holding peoples money for months refusing to let them take it out, sometimes forever.
 
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