Frequently Asked Questions
- When will I receive my payment?
- Why didn’t I receive my payment?
- How was the payment amount calculated?
- If I choose the 24.6 year payout plan, what will happen to the distribution if I die before the 24.6 years?
- I only received one check. Does this cover all of my claims/accounts?
- How can I request for my check to be reissued?
- How do I update my contact information or name change?
- What if I disagree with the amount of my payment?
- Will claims submitted after the August 11, 2014 deadline be accepted and paid?
The Settlement was granted Final Approval by the Court on February 25, 2014. Prior distributions in this Settlement occurred on July 31, 2014, October 31, 2014, January 8, 2015, and February 5, 2015.
The Fifth Wave Distribution occurred on March 18, 2015. This distribution consisted primarily of all non-deficient Individual, Deceased Member, and both still-existing and non-existing Organizational claims which were filed by the Court ordered August 11, 2014 late filing deadline but not included in the First, Second, Third, or Fourth Wave Distributions. The distribution also included any additional associated claims for claimants already paid in the First, Second, Third, or Fourth Wave Distributions.
To date, payments have been made to those Individual, Deceased Member, and Organizational claims that were non-deficient and submitted by the Court ordered August 11, 2014 late filing deadline. If you have not received payment, it may be due to the fact that your claim was not timely submitted, is in some way deficient or requires further review of the documentation provided in support of your claim. If your claim is deficient, you will be receiving a letter explaining the deficiency and how you may cure it. At this time, no date has been set for further distributions. Please check the settlement website for updates.
The amount paid to each class member that submitted a valid claim in this Settlement is determined by the amount of capital credits earned during each year of the class period in which you were a member of Cobb EMC.
If you chose the 24.6 year plan, you received a check now for the full amount of all capital credits earned in 1989 and prior years. Payments for all capital credits earned after 1990 and through December 31, 2012 will pay out 24 years after the capital credits were allocated. So, for example, in 2015, you would receive the 1990 capital credit amount, the 1991 capital credit amount in 2016, and etc.
If you chose the lump sum payment option then all capital credits earned after 1989 and through December 31, 2012 pay out now, but with a 12% discount applied. The 12% discount is applied to calculate the present value of the lump sum payment. For example, $100 received today is worth more than $100 received 24 years in the future. Through this calculation, you are receiving what the parties and the Court have agreed is the present value of all of the future payments.
The funds will be disbursed to your estate and distributed based on the appropriate legal documentation. It is not necessary to designate a beneficiary.
The check you received covers payments for all records/accounts in your name based upon the information you submitted in your Claim Form.
Check reissue requests must be submitted in writing. Please be sure to include your full name, current address, former address if you need to update your contact information, claim number, and a daytime telephone number with the best time to contact you. You can submit your requests by email to email@example.com, by fax (866)582-3747 or by mail to:
Cobb EMC Class Action Settlement
PO Box 10020
Dublin, Ohio 43017-6620
You may write to us at Cobb EMC Class Action Settlement, c/o GCG, PO Box 10020 Dublin, Ohio 43017-6620, or send an email to firstname.lastname@example.org.
For a name change, please include appropriate documentation establishing the change of name, such as a marriage certificate and driver’s license.
If you disagree with the payment amount that you received, please state your disagreement in writing and include, your name, claim number, account numbers, service addresses and years during which you were a member of Cobb EMC, and send it to us at Cobb EMC Class Action Settlement, c/o GCG, PO Box 10020 Dublin, Ohio 43017-6620 or by email to email@example.com.
Cobb EMC has agreed to pay claims submitted after the August, 11, 2014 court ordered deadline. These claims will be paid pursuant to Payment Option 1, regardless of what payment option was selected on the Claim Form. No timeline has been set as to when these claims will be paid.
Please do not contact the court for information about this Settlement.