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Thursday, August 15, 2019

Lawsuit Update

Dear Clients:

I am now advised that payments will commence on or about October 8.
Please check your notices for the tax treatment of your payments:

* NY EMPLOYEES 7/18/11 - 11/10/18 OR CA EMPLOYEES 7/18/14 - 11/10/18:
25% of your payments are considered back wages and normal payroll taxes will be deducted. The other 75% will be considered non wage income and no deductions will be taken.

* ALL OTHER HANDLERS 5/22/14 - 11/10/18:
50% of your payments are considered back wages and normal payroll taxes will be deducted. The other 50% will be considered non wage income and no deductions will be taken.

Please be reminded that I cannot offer any tax advice. Provide your accountant with the notices you were provided with, or have him/her review the final settlement agreement in the Court file.
Regards,

Dave Aboulafia

Friday, August 9, 2019

Lawsuit Update

LAWSUIT UPDATE

The settlement has been approved by the judge.  We're hoping that within 60 days, the first payment will be issued. Our lawyers will be monitoring all and as things progress, I’ll keep you updated. 

Bill Beaury

Sunday, August 4, 2019

Lawsuit Update

Dear Clients:

On August 8, the District Court will have a final hearing to approve the settlement in this case. The last time I checked, there was not one objection to the settlement by any class member.

After this hearing, I anticipate that the Court will formally approve the settlement with a written Order. While I cannot predict when the Judge will do this, he is known for acting quickly in this regard. Technically, 30 days thereafter, payments to all class members should commence. All class members will receive 4 equal, separate payments over a three year period. We have only been able to give you a general formula for how the payments will be calculated.

A company by the name of Rust Consulting will be administering these payments. Amanda Myette (amyette@rustconsulting.com) is our main contact person there. Paul Aloe and I will be available for the duration to handle any issues that may arise.

It has been my privilege to serve you in this matter.

Regards,

Dave Aboulafia