Www.DramClaims.com – DRAM Class Action Lawsuit Settlement
You may be able to get anywhere from $10 to $1000 if you bought DRAM or anything that has DRAM at any time between January 1, 1998 to December 31, 2002. DRAM is Dynamic Random Access Memory. This is a data storage that can be found in computers. It can also be found in some digital devices. It can refer to the chips and it can also refer to the modules. The reason that the lawsuit was filed is because of alleged price fixing by the company that makes the device so that those who bought them actually paid more for them then they should have. Again it could be the device itself or products that contained the device. The only caveat is that you cannot have bought is directly from the manufacturer. If you did then you cannot take part. This is because normally only major companies would buy it direct. Information on how to participate can be obtained from the www.dramclaims.com website. This is a great site where you can get all the details of the case.
The DRAM Class Action Lawsuit Settlement amount is $310 million. If you think that you have bought that product or you have bought other products that contain it then you have a right to a part of the money. So depending on what you bought, you may be able to get some serious cash. This case is only for valid if you bought the product in the U.S. and the seller is in the U.S. Because there are so many products that contain, DRAM, there are many companies that are considered the defendants. Some of the companies include Hitachi, Hynix, Mitsubishi Electric Corp., NEC, Samsung, Toshiba, Winbond, Nanya, Mosel, Micron and Infineon. You can go to the official website of the case which is www.dramclaims.com in order to find out how much each of these companies have contributed to the total fund.
About 89% of the money in the fund will be given to businesses and also individuals. The rest of the money will be given to state and local government. The amount of the attorneys’ fees that has been requested is 25% of the settlement amount. So it is 25% of $310 million. It is expected that $200 million will go towards paying for all those who are eligible to submit claims. Those who are eligible are known as Class Members. The payment will be made on a pro rata basis. This means that you may get more or less than what you are owed depending on how many people actually file claims. Any money that is not used will be given to non-profit organizations. These organizations will have to be the ones that the Court has approved. So it cannot be any random company.
What is sad is that if there are more than 5 million people who submit valid claim forms, then nobody will get any cash benefits. An amount will be given to the non-profit organization instead. That amount is $40 million. If you have any questions about this amount or about the distribution of the funds or even about whether you are eligible to submit the claim form, then you should call the following toll free number: 1-800-589-1425.
There is a claim form that you can download from the settlement site if you wish to submit your claims via regular mail. You also have the option of submitting online. In order to be considered valid, the claim form must be submitted by August 1, 2014. You do not have to send in any documentation at this time. But if you do have documentation showing that you bought the product during the time period mentioned, then you should hang on to it. You may be asked to provide it at a later date. If you do not have documentation and you are asked to provide documentation, then you can write a letter and mention in the letter what kind of proof you have to show that you bought the product. Your letter will be reviewed and whatever the outcome of that review, you will still receive some compensation.
Only after final approval has been granted will checks be mailed out. However this is only if there are no appeals, If there are appeals, the process of getting your money may take up to a year or even more. If you wish to find out if there are any appeals, you can contact the settlement administrator who can provide you with the information. Sometimes that information may also be displayed on the website itself. So you can check there too. Whatever case updates will also be presented there. You also need to make sure that the administrator has your most current address. You can also update that information at the site. The final hearing will be on June 25, 2014. So check the website after this date.
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