Last Update :12/20/2012
NGCOA Statement Regarding Visa/Mastercard Class-Action Lawsuit
December 20, 2012
The National Golf Course Owners Association (NGCOA) has received inquiries from a number of golf course owners regarding the efforts of certain firms to assist in recovering moneys from pending class actions against Visa, MasterCard and numerous banks. While the offers vary, in essence they promise to intercede in any claims process in order to maximize the recovery golf courses will receive, in return for a significant portion of that recovery.
The assertions being made by some of these firms are not necessarily helpful, sometimes misleading and often confusing. Despite what you may have heard, a class has not even been certified in the current litigation. In the opinion of the NGCOA, it is simply too early to file a claim.
While we cannot predict how any future settlement might be managed if there is one, history suggests that the claims process will be fairly simple, assistance provided by class counsel will be sufficient, and additional resources (ie: working with a third-party claims processor) will not be needed in any but the most exceptional situations. It is our understanding that merchants who have used recovery firms in prior, similar cases relinquished thousands of dollars.
Once there is a settlement, there will in all likelihood be direct communication from the lead plaintiff/attorney and a means for those affected to file directly vs. having a third party file for them. The NGCOA feels that this will be the best course of action.
While we cannot speak to every situation, you may want to consider this in determining how best to proceed. Please feel free to contact us at 1-800-933-4262 (extension 206 or 222) for further guidance.
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