Northern Leasing Credit Card Equipment Class Action Settlement
The Court has certified two classes. Those classes are as follows:
(1) All persons and businesses who from March 26, 2006 to the present paid any of the Leasing Defendants property taxes based on a cost greater than the “equipment cost.” “Leasing Defendants” means Northern Leasing Systems, Inc.; MBF Leasing LLC; Northern Funding LLC; Jay Cohen; Leonard Mezei; Sara Krieger; Sam Buono; and SKS Associates, LLC. (This class is called the “Property Tax Equipment Cost Basis Class.”)
(2) All persons and businesses whose lease numbers appeared on “Schedule 1.” A copy of Schedule 1 is available for review here. (This class is called the “SKS Post-Lease Expiration Class.”)The two classes combined will be referred to as the “Settlement Class.” The Settlement Class excludes (1) the Honorable Judge Claudia Wilken and any member of her immediate family; (2) any government entity; (3) any person or entity who acted as an independent sales organization or independent sales or marketing agent on behalf of Leasing Defendants with respect to any equipment finance lease; (4) any of the Released Parties (defined below); (5) Antonio Piazza and Mark Segall and any members of their immediate families; and (6) any persons who timely opt out of the Settlement Class.
Every Settlement Class member who files a Valid Claim (defined below) will receive the following benefits:
(a) Each member of the SKS Post-Lease Expiration Class from whom monies were actually collected in connection with the SKS Allegations (described in the Notice) shall receive the full amount collected, less any refund provided to and received by such Settlement Class Member in the New York Attorney General Settlement, plus $41.75.
(b) Each member of the SKS Post-Lease Expiration Class from whom monies were not actually collected in connection with the SKS Allegations shall receive $15.
(c) Each member of the Property Tax Equipment Cost Basis Class shall receive $14.25 for each year after March 26, 2006 that he, she or it paid any Leasing Defendants property taxes based on a cost greater than the “equipment cost.”
Proof of Purchase
Rainbow Business Solutions, Inc., et al. v. Northern Leasing Systems, Inc., et al. Case No. 10-CV-01993-CW U.S. District Court, Northern District of California
The class action settlement will resolve a lawsuit over whether Northern Leasing Systems, Inc., and affiliated entities improperly charged taxes and fees in connection with certain credit card equipment leases.