ATLANTA, May 1, 2017 /PRNewswire/ -- A proposed settlement has been reached in a class action lawsuit against Wells Fargo Bank, N.A. ("Wells Fargo"). The lawsuit alleges Wells Fargo violated the Telephone Consumer Protection Act ("TCPA") by using an automatic telephone dialing system and/or an artificial or prerecorded voice to initiate calls to cell phones ("Automatic Calls") in connection with student loans, without prior express consent. Wells Fargo denies the allegations, and the Court has not decided who is right. Instead, both sides agreed to a settlement.
You are included in the Settlement as a Settlement Class Member if you received an Automatic Call regarding a Wells Fargo student loan account from April 21, 2011 to December 19, 2015.
Wells Fargo has agreed to create a $2,075,071.80 Settlement Fund. The Fund will be used to make cash payments to Settlement Class Members who submit valid claims and to pay Class Counsel's attorneys' fees and costs (up to $622,522), a $15,000 service award to each of the two Class Representatives, and settlement administration costs. Settlement Class Member's payments are estimated to be between $20 and $50, but they will depend on the total number of approved claims that are filed.
To receive payment, you must complete and submit a valid Claim Form by July 31, 2017. If you received a Postcard Notice in the mail you may file a claim using the detachable Claim Form, or online or by phone using the Claim ID provided on the front of the card. If you did not receive a Postcard Notice in the mail, you may print a Claim Form from www.PratherWellsFargoTCPA.com and mail it to the address on the form. Claim Forms are also available by calling 844-363-2463.
If you don't want a payment from this Settlement, and you want to keep the right to sue or continue to sue Wells Fargo on your own about the legal issues in this case, then you must request exclusion from the Settlement by sending a letter to the Claims Administrator by June 30, 2017. The letter requesting exclusion must contain the information set forth in the full Notice and in the Settlement Agreement, both are available at www.PratherWellsFargoTCPA.com. Unless you exclude yourself, you are choosing to stay in the Settlement and you are releasing Wells Fargo from the legal claims resolved by this Settlement. The Released Claims are described in full in the Settlement Agreement.
If you don't exclude yourself, you can object to any part of the Settlement. You must file your objection with the Court and mail it to Class Counsel and Counsel for Wells Fargo by June 30, 2017.
If you are a Settlement Class Member and you choose to do nothing, you will not receive a payment, you will be bound by the Settlement, and you will release Wells Fargo from the legal claims in this case.
The Court will hold a hearing on August 30, 2017 to decide whether to approve the Settlement, Class Counsel's request for attorneys' fees and expenses, and Class Representative service awards. You may attend, but it is not required. If you wish to hire your own attorney, you may do so at your own expense.
For more information, including the full Notice and Settlement Agreement, visit www.PratherWellsFargoTCPA.com.
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SOURCE Lieff Cabraser Heimann & Bernstein, LLP; Burke Law Offices