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Old 04-06-05, 10:14 PM   #1
keayne
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Deadline approaching to opt-out of Krypto settlement, here is a copy of the Opt-Out Procedures from the PDF at site below.

Each member of the Settlement Class wishing to opt out of the Settlement Class shall ndividually sign and submit timely written notice to a designated Post Office box. The written notice must clearly manifest an intent to be excluded from the Settlement Class. To be effective, written notice must be postmarked on or before 10 days before the date of the Final Fairness
Hearing first set by the Court.

As stated in other posts, AND the link above, you have alternatives...such as exchange.

hey ~ Joe Gardner, I didn't quite know where to post this one...the sticky for Krypto didnt quite seem the place to let those who may not know about deadline to opt-out of the Class Action Lawsuit.

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Old 04-06-05, 10:34 PM   #2
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Wow. Attorneys' fees of $690,000? What exactly did they do to spend $690,000?

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Old 04-06-05, 10:46 PM   #3
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Originally Posted by koffee brown
Wow. Attorneys' fees of $690,000? What exactly did they do to spend $690,000?

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I kinda think $690,000 USD may not be very much money...especially for those with more time than I have to proceed with, opting-out and proceeding (with lawyer) to the final fairness hearing.

I wonder how many 'clients' had multiple thefts from a krypto-lock, escpecially if the dollar value exceeds the values outlined in the class action lawsuit. It may be worth someone's time to lawyer up in a case like that.
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Old 04-06-05, 11:04 PM   #4
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$690,000 for attorneys' fees IS a lot- it's not the value of what the plantiffs get, it's what the lawyers are awarded for the "work" they've done. I would want the breakdown of the money they get paid per hour, how much it costs for things like trips, what the cost of discovery was, how much they got paid for court time, etc. I've worked in attorneys offices for years, and I haven't seen anything like this, especially for such a short amount of time. Not to say it never happens, but I think they should disclose exactly how much they spent for everything. It just reeks of taking advantage of the situation.

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Old 04-06-05, 11:12 PM   #5
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$690,000 covers a whole lot of hookers and blow.
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Old 04-06-05, 11:17 PM   #6
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No joke. They must have partied pretty hardy.

I just think attorneys like these folks are just sleazy- they get involved in these class action lawsuits just to get the attorneys fees. I just googled out 3 large class action suits. Dood makes plenty, and mostly, the plantiffs seem to get vouchers. On top of that, it's not like Kryptonite did NOTHING to rectify the situation.

This is why so many people hate attorneys. It's difficult to see them as anything but bloodsuckers when they do these massive torts.

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Old 04-06-05, 11:39 PM   #7
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The Lawyers SHOULD have gone after Master Lock not a company that actually DID something to make things right
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Old 04-06-05, 11:59 PM   #8
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sorry if this has been asked before, but i haven't really paid attention to this whole thing. I got a letter about the class action suite but didn't really read it. Does that mean i'm part of it and need to let them know i don't want to be a part of it? I tried the exchange but just never got the chance to send the lock in. can someone tell me what's going on? cuz i don't have time to deal a class action nor to exclude myself from it. thanks
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Old 04-07-05, 12:04 AM   #9
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Originally Posted by wangster
sorry if this has been asked before, but i haven't really paid attention to this whole thing. I got a letter about the class action suite but didn't really read it. Does that mean i'm part of it and need to let them know i don't want to be a part of it? I tried the exchange but just never got the chance to send the lock in. can someone tell me what's going on? cuz i don't have time to deal a class action nor to exclude myself from it. thanks
The letter basically states that if you got your lock replaced then you got what you were going to get if you were part of the settlement. If you wanted to be a jerk then you'd opt out rather than accept the new lock whichj is what 99.99% of us wnated in the first place. People wonder why I hate lawyers
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Old 04-07-05, 11:15 AM   #10
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Basically, Kryptonite is doing in the lawsuit what they already initiated doing on their own last year. What's the point of the lawsuit? There were lots of companies that used that type of lock, but they just went after the company with the deepest pockets so they could get the biggest award for their fees.

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Old 04-07-05, 11:28 AM   #11
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so is it too late to try and get a new ups tag to exchange locks? I got one in late dec or early jan but never got around to mailing it, so can i get a new ups label and exchange it still?
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Old 04-07-05, 11:30 AM   #12
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Kryptonite had already begun its "free lock" program before this lawsuit was filed. And, all these lawyers did is get an "option" for a ten dollar credit, instead of a new lock. A waste of time and money.

In the meantime, five or six other companies continue using the same round key on bike locks, and several companies are using them for vending machines and for gun cabinets. Only ONE company offered to replace the locks (Kryptonite) and only ONE company is being targeted by these lawyers (Kryptonite).

But, ultimately, the blame must rest on the judge, not the lawyers. Judges have to power to throw out silly lawsuits, and to punish lawyers who file silly lawsuits. Currently, most judges in the USA are paid LESS than some of new lawyers at the mega-sized law firms...folks still waiting to find out if they passed the bar. A nation that pays its judges less than some 25 year old lawyers who have never passed the bar exam should not expect to much from those judges...not even common sense.
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Old 04-07-05, 11:34 AM   #13
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Somehow, I don't think this even made it's way to the judge. They probably were assigned an arbitrator to handle the settlement talks, and the arbitrator 1) barely knew enough about the case beyond what's put on papers and highlighted for his attention and 2) didn't get disclosure about the other companies or Kryptonite's efforts so far.

It's the lawyers who end up getting paid on both sides, and hey... they don't care. They just litigate to line their own pockets first, and the plantiffs benefit second. In this case, it's a dismal second. How many people are going to choose a ten dollar voucher over getting a new lock?

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Old 04-07-05, 12:30 PM   #14
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Doesn't the class have to be certified -- shown to be legit. -- by a judge before a class action suit can be filed?
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Old 04-07-05, 01:28 PM   #15
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Yeah, but all this stuff happened last year. It could very well be that the judge didn't get all the info because it was in the process of being worked out by Kryptonite.

I guess the best thing to do is to check with the courts to see how the case evolved. However it evolved, it still doesn't change that nothing came out of this court case except useless vouchers and a 700K check for the attorneys.

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Old 04-12-05, 02:10 PM   #16
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Quote:
Originally Posted by wangster
sorry if this has been asked before, but i haven't really paid attention to this whole thing. I got a letter about the class action suite but didn't really read it. Does that mean i'm part of it and need to let them know i don't want to be a part of it? I tried the exchange but just never got the chance to send the lock in. can someone tell me what's going on? cuz i don't have time to deal a class action nor to exclude myself from it. thanks
As stated in other posts, AND the link above, you have alternatives...such as exchange.

OOPS Correct now, thanks Koffee

Last edited by keayne; 04-15-05 at 03:00 PM.
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Old 04-12-05, 04:44 PM   #17
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Wrong link, Keayne, but I got one for you: http://199.231.128.232/

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