PayPal gets spanked

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Posted By: warshawlaw

Meanwhile, those of us who've been screwed by Paypal and simply decided to eat the costs may now have a shot at getting our money back and a chance to use Paypal again under circumstances that are more equitable. But that's not important to you, right? All that counts for guys like you is that the lawyers should not be paid, right? I am so sick of hearing this BS.

Let's talk facts, not insurance company and chamber of commerce propaganda: This case happens to be something many of us know about first hand because so many of us have been shafted by Paypal. Paypal screws sellers, period, and has been doing it for years, but when was the last time you saw them voluntarily repay money taken from an account on bogus grounds? Answer: never. It took a lawsuit to get them to repay the people they cheated and change their activities. Without this case, I never see my $400 again. Also, no one puts up $9,000,000.00 just "because". These clowns can disclaim responsibility all they like but the fact is that WE know and they know that they were guilty as hell of precisely the abuses specified and they are paying to settle the allegations. It may interest you to know as well that (1) the court, not the lawyers, decide on the attorneys' fees in class action cases, (2) the lawyers take these cases on a purely contingent basis and eat all the attendent costs, so if the defendant decides to fight rather than settle, the lawyers are in for the long haul to the tune of hundreds of thousands of dollars or more out of pocket and no guarantee of repayment, and (3) if you are offended by the fees, file a protest per the order. If you don't file a protest and/or don't appear to protest the fees, shut your pie hole--you have no right to complain.

I could tell you about cases that would curdle your milk. I have a client who was crippled at 11 by a drunk driver. They settled the case with a structured settlement that placed bonds in trust to generate a stipend each year to pay his medical care and living expenses (he had to have assisted living in a group home for the rest of his life). The trustee with the help of the banks who were supposed to be monitoring the investments stole the bonds, pledged them in various deals as collateral (or spent it) and lost it all. Then the bastards went bankrupt. This happened to over 100 other crippled and brain damaged people. The resulting class action forced the banks who were managing the looting to step up and pay back the funds so that people like my clients would receive the care they need. I suppose you'd prefer not to pay the attorneys for that one, either. Enron, Worldcom, Arthur Andersen, any of these ring a bell? Who is going to go after the dogs behind these scams and others like them? The government? Not when you slash enforcement budgets with tax cuts for millionaires.

You like Paypal freezing accounts and sending money back to lying purchasers? You like the Broadway Ricks of the world shilling with impunity because ebay doesn't see enough evidence? Keep whining about attorneys getting paid for their services. Just don't come to me when you are ripped off or injured.