TD Bank Penny Arcade Class Action Settlement

A settlement has been proposed for several class action lawsuits that challenge the accuracy of Penny Arcade coin-counting machines at TD Bank NA stores.

If you used a Penny Arcade machine at a TD Bank store between April 11, 2010 and July 12, 2017, you may be entitled to a cash payment from the class action settlement.

Penny Arcade was a coin-counting machine at TD Bank stores. When users deposited coins into the Penny Arcade machine, the machine would issue a receipt that reflected the total value of the coins counted. The receipt could be redeemed with a teller for cash or for deposit into a TD Bank account.

If approved, this Penny Arcade settlement will resolve eight TD Bank class action lawsuits that allege the Penny Arcade coin-counting machines at TD Bank stores fail to provide the full value of the coins deposited into the machines.

The Penny Arcade class action lawsuits point to a segment aired on NBC on April 6, 2016 that reported Penny Arcade machines fail to accurately count users’ coins and shortchange customers.

TD Bank denies any wrongdoing but agreed to settle the Penny Arcade class action lawsuits to avoid the costs and risks of litigation. Under the terms of the proposed Penny Arcade class action settlement, TD Bank will pay $7.5 million into a settlement fund.

The TD Bank Penny Arcade class action settlement was preliminarily approved on July 12, 2017.

The deadline to opt out of or object to the Penny Arcade class action settlement is Oct. 27, 2017.

Who’s Eligible

Class Members of the TD Bank settlement include anyone who used a Penny Arcade machine to exchange coins for cash or credit to a TD Bank account between April 11, 2010 and July 12, 2017.

Potential Award

Varies according to the total dollar amount of Penny Arcade transactions the Class Member conducted during the Class Period.

It is estimated that the payments to Class Members will be at least 26 cents per $100 exchanged at a Penny Arcade machine during the Class Period.

NOTE: Class Members who held a TD Bank account when they made Penny Arcade transactions will automatically receive compensation, either as a credit to their TD Bank account or in the form of a check. They do not need to submit a Claim Form to receive payment. If you do not currently have a TD Bank account, a check will be mailed to the address TD Bank has on file. Contact the Settlement Administrator if your address has changed.

Class Members who did not hold an account at TD Bank at the time of their transaction must provide documentation in order to receive benefits; however, if they are unable to provide suitable documentation, the calculation of their claim payment will be based on a maximum transaction amount of $500.

Proof of Purchase

None required, unless you are making a claim for Penny Arcade transactions made when you did not have a TD Bank account. For each of these Penny Arcade transactions, you must provide the following information:

• The date of the Penny Arcade transaction;
• The dollar amount of the Penny Arcade transaction; and
• Documentation to substantiate your claim (if available).

If you cannot provide documentation of your Penny Arcade transactions, your payment will be calculated based on a maximum transaction amount of $500. However, the Settlement Administrator may require you to provide additional documentation in order to receive compensation.

Claim Form

CLICK HERE TO FILE A CLAIM »

Class Members who would rather mail in their Claim Form can download a pdf version here. 

Claim Form Deadline

10/27/2017

Case Name

Macias v. TD Bank NA, Case No. 16-cv-3420; Feinman v. TD Bank NA, Case No. 16-cv-3435; Luce v. TD Bank NA, Case No. 16-cv-2621; Filannino-Restifo v. TD Bank NA, Case No. 16-cv-2374; Diaz v. TD Bank NA, Case No. 16-cv-2395; Spector v. TD Bank NA, Case No. 16-cv-2682; Krulan v. TD Bank NA, Case No. 16-cv-2919; and McEnerney v. TD Bank NA, Case No. 16-cv-2918, all in the U.S. District Court for the District of New Jersey

Final Hearing

1/11/2018

UPDATE: The TD Bank Penny Arcade Class Action Settlement was granted final approval on January 12, 2018.  However, on January 23, 2018, an appeal was filed. Claims will not be paid until all appeals are exhausted.  We appreciate your ongoing patience. Top Class Actions will continue to provide updates as we learn more.  

UPDATE 2: On February 14, 2018, the appeal to the TD Bank Penny Arcade Class Action Settlement was dismissed. Let Top Class Actions know when you receive a check in the comments section below or on our  Facebook page.

Settlement Website

www.PennyArcadeSettlement.com

Claims Administrator

Penny Arcade Settlement
c/o GCG
P.O. Box 10470
Dublin, OH 43017-4070
1-855-312-1974
questions@PennyArcadeSettlement.com

Class Counsel

Bruce H. Nagel
NAGEL RICE LLP

Michael Criden
CRIDEN & LOVE PA

Stephen P. DeNittis
DENITTIS OSEFCHEN PRINCE PC

Jeffrey Smith
WOLF HALDENSTEIN ADLER FREEMAN & HERZ LLP

John Radice
RADICE LAW FIRM

Defense Counsel

David S. Lesser
WILLIAM CUTLER PICKERING HALE AND DORR LLP