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U.S. Tobacco Cooperative Inc., formerly known as Flue-Cured Tobacco Cooperative Stabilization Corporation, has reportedly agreed to a $24 million class action settlement involving claims made by current and former members over reserve funds.
If you were a shareholder or member of U.S. Tobacco Cooperative between June 1, 1946 and Sept. 13, 2017, or if you were an heir or legal representative of a shareholder or member, you may be entitled to a payment from the Flue-Cured Tobacco class action settlement.
The proposed Flue-Cured Tobacco settlement will resolve a class action lawsuit that claims U.S. Tobacco Cooperative kept accumulating funds from Class Members after the federal Tobacco Price Support Program ended, at which point U.S. Tobacco Cooperative no longer served its purpose.
According to the Flue-Cured Tobacco class action lawsuit, U.S. Tobacco administered the federal price support program for flue-cured tobacco for the Commodity Credit Corporation, which is a division of the U.S. Department of Agriculture, before the Fair and Equitable Tobacco Reform Act of 2004 was passed.
Under the federal price support program, the Commodity Credit Corporation made loans to U.S. Tobacco, which U.S. Tobacco used to buy tobacco from members whose tobacco did not sell at auction. When U.S. Tobacco later sold the tobacco that had been purchased with the loans, the proceeds were used to repay Commodity Credit Corporation for the loans. U.S. Tobacco also collected assessment fees from growers, which were used to reimburse the government for losses suffered under the federal price support program.
The plaintiffs claim that U.S. Tobacco accumulated reserve funds thorough its members and that the reserve funds should be distributed to members. They assert that U.S. Tobacco acted unreasonably by failing to distribute the reserve funds. Further, the Flue-Cured Tobacco class action lawsuit alleges that the purpose of U.S. Tobacco ceased to exist once the federal price support program ended and that the company should be dissolved and its assets distributed to members and shareholders.
U.S. Tobacco denies the allegations and maintains that it has done nothing wrong.
The deadline for Class Members to exclude themselves from or object to the Flue-Cured Tobacco settlement is Dec. 20, 2017.
Who’s Eligible
Class Members of the flue-cured tobacco settlement include anyone who is an individual, proprietorship, corporation, partnership or other entity that is or was a shareholder and/or member of U.S. Tobacco at any time since June 1, 1946; or anyone who is an heir, legal representative, executor, power-of-attorney, successor, assign or other individual who acts for or on behalf of the shareholder and/or member with respect to U.S. Tobacco and/or the settled claims.
Potential Award
To Be Determined. Class Members may file a Group 1 or a Group 2 claim.
Group 1 payments will depend on the total pounds of flue-cured tobacco the Class Member marketed and sold between June 1, 1946 and Sept. 13, 2017.
Group 2 payments will depend on the number of years in which the Class Member marketed and sold flue-cured tobacco between June 1, 1946 and Sept. 13, 2017.
Proof of Purchase
Class Members will be asked to provide copies of any documentation they may have, including their U.S. Tobacco or Stabilization membership number, documents that help determine the total pounds of flue-cured tobacco the Class Member or their predecessor marketed and sold during the Class Period and/or documents that help determine the total number of crop years in which the Class Member or their predecessor marketed and sold flue-cured tobacco during the Class Period.
Heirs or representatives will be asked to provide documents showing they are the legal heir or representative of the deceased Class Member.
NOTE: Class Members may submit claims even if they don’t have documentation; however, there is no guarantee that their claims will be approved.
Claim Form
Claim Form Deadline
5/26/2018
Case Name
Speaks v. U.S. Tobacco Cooperative Inc., Case No. 5:12-cv-00729-D, in the U.S. District Court for the Eastern District of North Carolina
Final Hearing
1/19/2018
Settlement Website
Claims Administrator
Settlement Claims Administrator – 5773
P.O. Box 2612
Minneapolis, MN 55021-9612
1-866-458-3207
Class Counsel
Gary K. Shipman
William Wright
SHIPMAN & WRIGHT LLP
N. Leo Daughtry
Kelly Daughtry
DAUGHTRY WOODARD LAWRENCE & STARLING LLP
Defense Counsel
Derek L. Shaffer
QUINN EMMANUEL URQUHART & SULLIVAN LLP
Lee M. Whitman
Paul J. Puryear
WYRICK ROBBINS YATES & PONTON LLP
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58 thoughts onFlue-Cured Tobacco Class Action Settlement
I have found a document where my brother had flu cure Tobacco Corporate stabilization Corporation certified certificate of purchase in 1958 I need to see if this is legitimate and if I get or my family gets paid for the hundred shares he had back in November of 1958 it is notarized and it is from the president of the corporation last name Hicks and I need to check with an attorney to see if we have a claim in that lawsuit please notify me at s.lowe18@outlook.com
Thank you it is for 100 shares
I filed a claim for my Mom, because my father is deceased, and no one has told us anything.
Hi David. This is Bill Brown, Dora Price’s grandson. My sister received information on this claim and asked me to reach out. Any chance you are the David I remember from childhood?
I think this is a bunch of bologna just one more thing to get your hooes up and smack you in the mouth once again thanks to all of you for nothkng
I would like get update on settlement or blackfluetobacc settlement
when are they going back to court, how much wiil the settlement be
My papers said i didnt have to do anything to stay in suit but havent heard anything whats going on with thos
Please someone explain. I do know that more than 65 people file in my area of Duplin County(North Carolina). Why haven’t we been afforded the consideration if even an e-mail or letter as to the status? This is all over the board with a variety of negative feed back? We need to have something in writing.
Has the case been settled? Not heard anything since I was told to file for my diseases husband. Could we get an update?
I was going through my late father’s belongings and found a Common Stock Flue-Cured Tobacco Cooperative Stabilization Corporation. I need to file a claim for his estate. Please send me information as to what I need too do,.
I have called the phone number on my claim. Disconnected. Never heard on my claim sent in
My name is Annette ,can someone please at least respond to us concerning this claim.