Viridian Energy Variable Rates Class Action Settlement

An $18.5 million settlement has been reached in a class action lawsuit alleging Viridian Energy charged consumers an excessive variable rate for gas and electricity regardless of fluctuations in the market price.

If you purchased electric or gas service from Viridian Energy, you may be entitled to payment from the class action settlement.

Plaintiff Lori Sanborn initially filed the Viridian Energy class action lawsuit in Connecticut federal court in November 2014. Her complaint was consolidated with several similar Viridian class action lawsuits in February 2017.

The plaintiffs allege Viridian made certain representations that caused them to enter into contracts with the company for electricity and/or natural gas supply services. These contracts permitted Viridian to charge a variable rate that was to fluctuate with the changes in the wholesale energy market.

However, the Viridian class action lawsuit alleges that viridian’s variable rates were not tied to the wholesale price for energy. Instead, Viridian increased its rates to match spikes in the underlying market price and kept them at the increased level even when the wholesale energy prices dropped, resulting in customers paying inflated rates.

Viridian denies any wrongdoing and maintains its variable rates were adequately disclosed and properly calculated based on the relevant market factors for electric and gas service. However, Viridian has agreed to settle the variable rate class action lawsuit to avoid the uncertainty, risk and delay of litigation.

The Viridian Energy class action settlement was preliminarily approved on Feb. 16, 2018.

The deadline to opt out of or object to the Viridian Energy class action settlement is May 15, 2018.

Who’s Eligible

Class Members of the Viridian settlement include all current and former Viridian customers enrolled in a variable rate plan between July 1, 2009 and Dec. 31, 2016.

Eligible claimants fall into either the “Average Usage Class” or the “Above-Average Usage Class.”

Average Usage Class: Includes customers with an average annual utilization rate of 25,000 or less kilowatt hours or 2,500 or less therms.

Above-Average Usage Class: Includes customers with an average annual utilization rate of more than 25,000 kilowatt hours or more than 2,500 therms.

Potential Award

Average Usage Class Members are entitled to a cash payment of the greater of $5 or 65 percent of the Calculated Amount (based on a formula comparing the variable rate the Class Member was charged against a weighted average of the relevant utility’s Price to Compare during that same time period), up to $425.

Above-Average Usage Class Members are entitled to the greater of $10 or 65 percent of the Calculated Amount, up to $500.

NOTE: Current Viridian customers can choose a billing credit instead of cash payment.

Proof of Purchase

Claimants must provide a Class Member ID, which is located on the postcard or email notice that was sent to Class Members.

Claim Form

CLICK HERE TO FILE A CLAIM »

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

6/14/2018

Case Name

Lori Sanborn, et al. v. Viridian Energy Inc., et al., Case No. 3:14-cv-01731-SRU, in the U.S. District Court for the District of Connecticut

Final Hearing

6/25/2018

Settlement Website

www.VariableRateSettlement.com

Claims Administrator

Sanborn v. Viridian Energy Settlement Administrator
c/o Heffler Claims Group
P.O. Box 42779
Philadelphia, PA 19101-2779
(844) 491-5745

Class Counsel

Robert Izard
Craig Raabe
Seth Klein
IZARD KINDALL & RAABE

Steven L. Wittels
J. Burkett McInturff
Tiasha Palikovic
WITTELS LAW PC

Jonathan Shub
KOHN SWIFT & GRAF PC

Daniel Hymowitz
Andre Belenky
HYMOWITZ LAW GROUP PLLC

Richard Greenfield
GREENFIELD & GOODMAN LLC

Charles LaDuca
CUNEO GILBERT & LADUCA LLP PC

Defense Counsel

Maura Barry Grinalds
Richard T. Bernardo
SKADDEN ARPS SLATE MEAGHER & FLOM LLP

Daniel S. Blynn
VENABLE LLP