Attorneys
Around 2600 settlement class members were issued and mailed a distribution check of up to $3930 each in the second week of November 2022 by the Settlement Administrator. A few of those being sent a distribution owed the Co-op TAGS fees, and those fees were subtracted from the amount sent to each such class member (individual or business entity).
This is the second distribution to be made from the Co-op’s net distribution proceeds. The initial distribution — of up to $5670 each — was sent to eligible settlement class members in four groups, starting with around 1800 in December 2021, more than 600 in February 2022, and then in two smaller groups in May and September 2022.
Only those eligible for the initial distribution have been issued the second distribution. All the deadlines to apply for eligible settlement class membership have passed; it is too late to qualify for a share in the Co-op’s dissolution.
If You Do Not Receive the 2nd Distribution:
If you received a check in the initial distribution and you still have the same address, check the mail for your 2nd distribution check. Give the U.S. Postal Service time to get it to you. If you do not receive the 2nd distribution check by November 28, 2022, contact us. There will be paperwork to fill out to have the check that was issued to you cancelled and then reissued and mailed to you.
If where you received the initial distribution is no longer your address, or there’s been some other change in circumstances, and the 2nd distribution check does not catch up to you or there’s a problem with cashing the check that you receive, contact a Class Counsel team member (classcounsel@mcbrayerfirm.com or 866-965-9005) to explain the issue.
If you were not issued an initial distribution, you are not eligible to share in the Co-op’s net dissolution proceeds and will not be sent the 2nd distribution.
Further Potential Distribution
The Dissolution Committee authorized by the Court has nearly completed the Co-op’s liquidation of assets and satisfaction of obligations and debts. Only when the dissolution is complete will there be a final distribution to eligible settlement class members; that will occur in 2023 at the earliest.
It is important to notify Class Counsel of any change in address or other circumstances that might prevent an eligible person from receiving or cashing a check. This might happen, for example, if the class member passes away, changes marital status and last name, or moves from the address on the W-9 that was submitted. Contact a Class Counsel team member at classcounsel@mcbrayerfirm.com or 866-965-9005.
