St. Louis Rams and PSL Owners Reach $24-million Settlement of Class Actions says Goldenberg Heller & Antognoli, P.C.
ST. LOUIS, Dec. 6, 2018 /PRNewswire/ -- The St. Louis Rams and individuals who purchased personal seat licenses (PSLs) entitling them to buy season tickets for St. Louis Rams football games through 2024 have agreed to resolve a class action lawsuit on behalf of tens of thousands of individuals.
The settlement, which remains subject to formal review and approval over the next several months by the court, provides for a refund equal to 30-percent of the price paid for each PSL. Thirty percent is based on an amount equivalent to the nine years remaining on the 30-year PSL contract when the Rams moved to Los Angeles after the 2015 season.
"This settlement provides a substantial benefit that matches the relief we sought in the lawsuit," said Kevin Green, attorney with Goldenberg Heller & Antognoli, P.C. "After nearly three years of litigation, and with the help of a skilled mediator, the Honorable William Ray Price, we were able to work with the Rams and their attorneys to resolve the case in a way that fully reimburses the unused portion of the PSL fee to the most loyal fans."
Original PSL contracts entitled owners to purchase season tickets through 2024. PSL contracts initially were sold by an entity called "Fans, Inc." In April 1996, the Rams started selling PSLs directly. The settlement includes purchases made both through Fans, Inc. and the Rams.
The PSLs were sold for $250, $500, $1,000, $2,500, $3,000, and $4,500 each, depending on the location of the seat. When the Rams left for Los Angeles they provided PSL owners neither a refund for the unused years nor the right to use the PSLs to buy tickets in the team's new home.
Attorneys for the PSL holders have filed a motion asking the court to preliminarily approve the settlement. If the court does so, it will require a third-party claims administrator to send notice to all class members about the terms of the settlement, as well as create a settlement website with information about how to file a claim. Class members will be able to file a claim by mail or online at the settlement website and the court will set a deadline for filing claims. In addition, the settlement agreement will provide a process to verify the claim and the amount owed.
SOURCE Goldenberg Heller & Antognoli, P.C.
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