CANADIAN TD COIN COUNTING CLASS ACTION SETTLEMENT CLAIMS PROCESS
APPLICATION DEADLINE: 16 SEPTEMBER, 2019
Settlement Class Members who wish to apply for compensation under the settlement must apply no later than September 16, 2019. Claims that are not made within the deadline will not be eligible for compensation.
Persons in Canada who used a coin counting machine at TD Bank between January 1, 2013 and May 25, 2016 (“Class Period”). You may be eligible for payment if you used TD Bank’s Coin Counting Machines in Canada during the Class Period.
Apply for payment using the online claims process at www.TDcoinclassactioncanada.com/portal | Instructions
Each Claim shall require the following:
- a declaration specifying the value of Deposited Coins and the approximate date on which the deposit(s) was made;
- documentary proof that will allow the Claims Administrator to verify the value of Deposited Coins claimed by the Settlement Class Member, which might include receipts or bank statements;
- disclosure regarding whether the Settlement Class Member has received compensation through other proceedings or private out-of-class settlements in relation to their Deposited Coins, and/or whether the Settlement Class Member's claims in relation to their Deposited Coins have been released, and details of the compensation received and the claims released;
- authorization to the Claims Administrator to contact the Settlement Class Member or its representative, as the Claims Administrator deems appropriate, for more information and/or to audit the Claim;
- a declaration that the information submitted in the Claim is true and correct; and
- if the Claim is submitted by a third-party on behalf of a Settlement Class Member (including a parent company claiming on behalf of a subsidiary or affiliate), the third-party must provide a signed statement from the Settlement Class Member at the time the Claim is filed authorizing the third-party to file the Claim on its behalf.
Settlement Class Members may utilize third-party claims services, a lawyer of their own choosing, or similar services to file Claims. If a Settlement Class Member chooses to use a thirdparty claims service, a lawyer of their own choosing, or similar services, the Settlement Class
Member will be responsible for any and all expenses incurred in doing so.
Calculation of Payments
The Net Settlement Funds will be distributed to Settlement Class Members pro rata (or proportionally) based on the value of the Settlement Class Members’ Deposited Coins as against the value of all Settlement Class Members’ Deposited Coins, as determined by the Claims Administrator.
Notwithstanding any other provision in this Distribution Protocol and subject to further order of the Court following the adjudication of all claims, all Claims assessed as valid by the Claims Administrator will be assigned a minimum value of $25.00. The $25.00 valuation target is not an estimate of any damages suffered. It is a minimum administrative threshold designed to maintain a feasible economic and administrative platform for the settlement distribution.
A Settlement Class Member's total recovery from the Net Settlement Funds will be capped at 2% of the value of their Deposited Coins.
Any balance of the Settlement Class Member's pro rata share of the Net Settlement Funds that exceeds 2% of the value of their Deposited Coins will be contributed towards a separate fund to be distributed by cypres award.
Below is a sample calculation involving a class member whose Deposited Coins totalled $500, under circumstances where the total value of all Settlement Class Members’ Deposited Coins is $1 million:
- The total Settlement Amount is $555,000.
- The Net Settlement Funds, once Class Counsel fees and disbursements have been deducted, is $345,000.
- Having claimed $500 in Deposited Coins, the Settlement Class Member would be entitled to 0.05% ($500/$1,000,000) of the Net Settlement Funds, or $172.50.
- $172.50 is 34.5% of the $500 value of the Settlement Class Member’s Deposited Coins.
- Since the Settlement Class Member’s total recovery from the Net Settlement Fund is capped at 2% of the value of their Deposited Coins pursuant to the Distribution Protocol, the Settlement Class Member would be entitled to recover $10.
Settlement Class Members seeking compensation must disclose and give credit for any compensation received through other proceedings or private out-of-class settlements in relation to Coin Counting Machines, unless by such proceedings or private out-of-class settlements the Settlement Class Member’s claim was released in its entirety, in which case the Settlement Class Member shall be deemed ineligible for any further compensation.
At its sole discretion, the Claims Administrator can elect to audit any Claim as it sees fit to maintain the integrity of the claims procedure.
If during claims processing, the Claims Administrator finds that deficiencies exist in a Claim or other information is required, the Claims Administrator shall notify the Settlement Class Member of the deficiencies through the online claims portal. The Claims Administrator shall allow the Settlement Class Member thirty (30) days from the date of such notice to correct the deficiencies. If the deficiencies are not corrected within the thirty (30) day period, depending on the nature of the deficiency, the Claims Administrator may reject the Claim.
CLAIMS ADMINISTRATOR'S DECISION
In respect of each Settlement Class Member who has filed a Claim in accordance with this Distribution Protocol, the Claims Administrator shall decide whether the Settlement Class Member is eligible to receive settlement benefits payable out of the Net Settlement Funds in accordance with the Settlement Agreement, orders of the Court and this Distribution Protocol.
The Claims Administrator shall send to the Settlement Class Member, by email or regular mail, a decision as to the approval or rejection of the Claim (the "Decision Notice"). Where the Claims Administrator has rejected all or part of the Claim, the Claim Administrator shall include in the Decision Notice its grounds for doing so.
The Claims Administrator's decision will be final and binding upon the Settlement Class Member.
PAYMENT OF CLAIMS
Claimants who are customers of TD Bank and have provided their relevant account details will be paid by the Claims Administrator by direct transfer from the Claims Administrator's trust account, which is held at TD Bank.
Claimants who are not customers of TD Bank will be paid by e-transfer through email where an email address has been provided or cheque where no email address has been provided or the Settlement Class Member has made arrangements with the Claims Administrator.