ABC Financial Settlement

MATTHEW PERLOW v. ABC FINANCIAL SERVICES, INC. and SEAS & ASSOCIATES, LLC

N0.1684-CV-03611-BLS2 (MA SUPERIOR COURT)

Plaintiff Matthew Perlow has reached a settlement with ABC Financial Services, Inc. and Seas & Associates, LLC on behalf of Massachusetts consumers from whom ABC attempted to or collected a purported debt between November 22, 2012 and July 25, 2018, and who did not pay the alleged debt within five days of ABC’s initial communication to them. Plaintiff brought this class action against Defendants ABC and Seas alleging that ABC and Seas engaged in unlawful debt collection practices that violated the Massachusetts consumer protection law, claiming that (i) ABC attempted to collect debts from Massachusetts consumers without making timely disclosure of the amount of the debt, and (ii) at times, Seas attempted to collect alleged debts from Massachusetts consumers without a debt collection license.  ABC and Seas deny any wrongdoing.

 

Under the proposed Settlement, Defendants have agreed to pay $1,800,000 to resolve this action (the “Settlement Amount”). If the Settlement is approved, Class Counsel (Shapiro Haber & Urmy LLP) will ask the Court to award them attorneys’ fees and expenses of not to exceed $600,000 from the Settlement Amount. Class Counsel will also ask the Court to award $10,000 to the Plaintiff to compensate him for his efforts in the case to be paid out of the Settlement Amount. Class Counsel will also ask the Court to allow the costs of notice and administering the Settlement to be paid out of the Settlement Amount.

 

The remaining amount available to be paid to the Settlement Class Members (the “Net Settlement Amount”) will be distributed to Settlement Class Members who made a payment to ABC and received a letter from ABC which did not disclose the amount of the alleged debt. Your share of the Net Settlement Amount will be determined by the number of such letters you received in proportion to the number of such letters received by other class members. Any share of less than $10 will not be paid out because the cost of administration and processing of such payments would not be economical. If you are eligible to receive a payment, your allocation will be determined from ABC’s records, and your payment, if any, will be sent by check to your most recent mailing address.

 

The Court granted preliminary approval to the Settlement on September 4, 2018.  The Court will hold a Final Approval Hearing on December 19, 2018, at 2:00 p.m. in Courtroom 1017 at Suffolk Superior Court, 3 Pemberton Square, Boston, MA 02108. The notice approved by the Court will be sent to class members by November 2, 2018. Once the notice is finalized and distributed in accordance with the Court’s order a copy will be posted on this website.

 

0001_Complaint_2016_11_22.pdf

0074_Ps_Unopposed_Motion_for_Entry_of_Preliminary_Approval_Order_2018_07_25.pdf

0075_Memo_in_Support_of_Ps_Unopposed_Motion_for_Entry_of_Prelimanary_Approval_Order_2018_07_25.pdf

0076_Stipulation_Settlement_Agreement_2018_07_25.pdf

0080_Preliminary_Approval_Order_2018_09_04.pdf

Summary Notice.pdf

Settlement_Notice.pdf

Ps_Motion_Final_Approval_Settlement_2018_11_20.pdf

Memo_in_Support_Ps_Motion_Final_Approval_Settlement_2018_11_20.pdf

Ps_Application_SHU_Award_Atty_Fees_Expenses_2018_11_20.pdf

Stewart_Dec_in_Support_Ps_Application_Fees_2018_11_20.pdf