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What Happens to Unclaimed Class Action Settlement Money?
In some class action settlements, not all of the money set aside for Class Members is claimed. There can be several reasons why money may be left in the settlement fund after the awards are disbursed. For example: perhaps a small number of eligible Class Members filed claims; or many Class Members could not be located; or the claims that were filed were worth less than expected.
Many readers of Top Class Actions wonder what happens to unclaimed settlement money. The answer to that question depends on the particular class action settlement, and will be found in the settlement agreement. Because it is relatively common to have leftover money in the settlement fund after claims have been paid out, the parties will typically address the issue during negotiations.
Typically, the additional settlement funds will be distributed in one of the following three ways:
- Disbursement to Class Members. In some settlements, unclaimed funds will be distributed evenly to those Class Members who filed claims. These payments often appear as a second check in the mail, and come as a happy surprise to Class Members who had previously received payment from the class action settlement.
- Cy Pres Distribution. In other settlements, the unclaimed funds will be distributed to a charity, non-profit organization or university with the purpose of furthering the policy goals of the settlement. The term cy pres may be translated as “as near as possible.” In class action lawsuits, a cy pres distribution is often seen as an option that benefits Class Members and prevents the settlement money from reverting back to the defendant.
- Reverts to Defendant. In some cases, unclaimed settlement funds will revert back to the defendant.
You can find out how the parties have agreed to address unclaimed funds in the official settlement agreement, which has to be approved by the court as fair and reasonable. If you disagree with how they propose to disburse unclaimed funds, you can file an official objection with the court. Directions for filing an objection by the deadline will be found on the settlement administrator’s website and within the settlement agreement.
What Can YOU Claim?
Top Class Actions is committed to educating consumers about all available class action settlement money so that they can claim what they are entitled to claim. Make sure you don’t miss out on any free money to which you’re entitled and sign up for our free newsletter. We’ll let you know about the latest class action settlements and any filing deadlines that are approaching. You can also check out our Open Settlements section to find out which settlements are currently accepting claims.
Related FAQ Articles:
Why Was My Class Action Settlement Payout Smaller than Expected?
Why Haven’t I Received My Settlement Check Yet?
How Do I Submit a Claim for a Class Action Settlement?
62 thoughts onWhat Happens to Unclaimed Class Action Settlement Money?
If I moved and it is passed the time of forwarding mail, will I be out of luck once the checks are mailed? I am specifically talking about the Li-ion batter settlement. Thanks
Hello,
Could you please provide or point me in the direction of the settlement administrator contact information for the Johnson V Navient settlement the 1-877-740-6998 is not in service & the http://www.johnsontcpasettlement.com is a dead end. I’d truly appreciate any help you can give
Hello,
A company I worked for had a lass action lawsuit filed against them and the employees were awarded a settlement. I was there when the lawsuit was filed then quit. After I quit shortly after the settlement was awarded but I was never contacted am I still entitled to the funds. Some of the guys informed with got there settlement.
3-12-2020
What is the name of that company, what is their address, and what years did you work there?
Do you know the name of the class action court case?
Received notice mother was part of union bank class action.
Submitted change of address to Administrator..Was told mothers check was returned from old address. And the dead line had expired.. Two months later I went on website to find they had extended the date. All I have gotten nothing but run around from these people.. My mother would sometimes have very little funds from her social security check left in her acct after the bank deducted over draft fees.
Hey
What’s the statue of limitations on a claim to a settlement once it expires?
When a company is warm to the consumer and contacts a settlement administrator and then goes cold to the consumer. Is that an indication of something fishy or is this common practice?
To whom it May concern:
Last year, I received a check for a settlement; but I forgot to deposit it and now it’s expired. How can I charge it?
The name and address are correct. I do not know why the post office wrote on the front of the check
Thanks for your help.
Martha Nava
My check is a little over 60 days old. How can I get the check reissued in the amount of $81.41? Thanks for your prompt attention to this matter.
You need to contact the settlement administrator to inquire about getting a reissued check.
The same issue happened to me but they’re stating they can’t issue a replacement is that true ?!
My address changed and i know i was receiving a check from wells fargo settlement how do i get a replacement? And update my address??
I moved and received my check for over $400 from Bank of America settlement. However it had a 90day expiration and I was unable to cash my reimbursement check or have another one issued. I really could have used it!
Hi I misplaced the check from the class action for the GE Capital Retail Bank I recently just found the check it has a void date of August 28th 2017 and I’ve been trying to reach out to the settlement claim but the number that’s on the website is no longer active I was trying to see if there’s any way I can get another check reissued for the amount of $104.09 my email address is clpinnix3@gmail.com thank you