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This settlement is closed!
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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
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
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
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40 thoughts onTD Bank Penny Arcade Class Action Settlement
My grandson received a check for .82 cents. On April 16th. My goodness. Made his day.
This is a email I received today in reference to an email I sent asking when would they send out checks:
At this time, we cannot provide exact payment dates; however, payments will be issued no later than April 25, 2018. We appreciate your patience during the process.
Additionally, it is not yet possible for us to determine how much (if any) any one class member might receive payment, at this time. However, based on the terms of the Settlement, payments to class members will likely be at least 26¢ per $100 exchanged using Penny Arcade during the Class Period. Please review the Notice for a more detailed breakdown of how payments will be calculated.
You may periodically visit the website, http://www.pennyarcadesettlement.com, for status updates and notice of the actual distribution date for this Settlement.
Regards,
Settlement Administrator (MB)
One person say they got a check for 1.30 they should be as ashamed to mailed a check for that small amount this postage fee. I hadn’t got nothing.
I see the appeal was dismissed a month ago today but so far the toll free phone number for the lawsuit says only that the payments are delayed due to the appeal filed in january. So what’s up? Anyone know? Mike
There was a update dated February 2018, the appeal was dismissed. One person received a check a small check and the court papers said the money would be distributed in spring.
I been a banking with TD bank for years. But who keep receipts for years. I just started checking the site out. I have missed out on a lot of claims. Make me think the lawyer keeping all the money for themselves. They just getting richer.
They have records of everyone e ho used the machine. Your given a receipt which you then take to the teller. Even if you take the cash the receipt is associated with your account. For those who didn’t have an account (I was under impression it was for customers only) and probably paid a fee, if they don’t have any receipts, the court papers say it limits their claim to $500. Of that a 0.26% is awarded. So according to my calculations a non-customer can only claim $500.00 and will receive a $1.30. Meanwhile I know I was cheated out of at least $100.00. Unless you used their arcade for a few thousand in change, that’s exactly what you will receive less than a few dollars, if that.
I had accounts with the bank at that time and used the penny arcade many times. I didn’t keep receipts, I never knew I would have to? I didn’t receive any letter from them, so I guess they either threw me off the list or I have not received it yet? Just another big business getting away with the unfair treatment of their customers. They want to keep all they have and still want more at the expense of the little people, they live a life of greed! As they say, “What Goes Around Comes Around”.
The notice of the class action suit was sent on a postcard. If you weren’t paying attention you could mistake it for junk mail. I almost did. Call the bank. If you used it and had an account with them they will have a record of it since every receipt given to the teller would be associated to your account.
So they waste money mailing me a letter so I can waste money mailing a response to get $1.30 yea……….
Received the same letter today but I did not file for more than $500. They are getting out of paying us.
What you are experiencing is yet another devious ploy by dishonest administrators to avoid paying out lawful claims. I would guarantee that almost everyone who filed for an amount under $500.00 received a letter telling them their claim was deficient as it was over $500.00. Perhaps a class action against these crooks should be initiated!!!
The $500 amount is only for non td bank customers. In other words if you don’t have an account and can’t submit receipts, they will in good faith assume a $500 limit. .otherwise you would have hundreds of people claiming they used the machine. If you have an account, you either took the receipt to the teller for cash or deposit. Either way your account number is associated with the receipt and the amount paid out or deposited to your account TD has that info.
Received a claim form deficiency today saying I claimed over $500 with no receipts and told me to submit a response back by March 17, 2018