In re Cobb EMC Class Action, Case No. 10:100353-48,
Superior Court of Cobb County, State of Georgia
Welcome to the Cobb EMC Class Action Settlement Website
A Settlement has been reached in a class action lawsuit involving current and former members of Cobb Electric Membership Corporation (“Cobb EMC”). The Settlement will resolve the lawsuit that alleges that Cobb EMC’s prior board and management failed to retire capital credits of former and current members.
The class includes any individual or entity that was a member of Cobb EMC prior to December 31, 2012 (if the member is deceased, that individual’s estate, heirs or beneficiaries may be entitled to payment).
The Settlement establishes a cash fund of up to $98 million for the benefit of Settlement Class Members, including attorneys’ fees and expenses of litigation, in exchange for a release by the Settlement Class of the claims described above and other related claims. All Settlement Class Members will be entitled to receive: (1) an immediate cash payment, without any discount, for the capital credits allocated to them through the first half of 1988 (as specified in the Stipulation of Settlement and for all years not already paid); and (2) the specified capital credits allocated to them from the second half of 1988 up through December 31, 2012, either in a one-time payment discounted to present value (utilizing a 12% discount rate), or paid out over 24.6 years without discount.
To receive payment, you must submit a valid Claim Form: ONLINE, by fax to 1-866-582-3747, or by mail to:
PO Box 10020
Dublin, Ohio 43017-6620
Requests for Exclusions must be postmarked or received by January 10, 2014.
Objections to the Settlement must be postmarked or received by January 10, 2014.
The Court-ordered deadline for filing a claim was February 10, 2014 but the parties have agreed, subject to Court approval, to accept late filed claims that are postmarked or received by March 8, 2014.
Final Approval Hearing: February 25, 2014 at 9:00 a.m. (Eastern time)
For more information, please call the Claims Administrator at 1-888-292-8850.
Please do not contact the Court for information about this Settlement.
Para assistanecia en Espanol por favor llame a 1-888-292-8850.