NJAG Palmco Settlement
- Claims forms can be filed at settlement website
- Brief list of Commonly Asked Questions is available
- Consumer Affairs can be contacted for information
While not incredibly typical, every so often a class action lawsuit settlement gets broken up into several different funds. An example of this type of settlement can be found in the class action lawsuit called Robert Lougy v. Palmco Power NJ, LLC. The suit was filed over allegations that the Defendant (Palmco) violated the Electric Discount and Energy Competition Act and the Consumer Fraud Act New Jersey state statutes along with certain BPU regulations while advertising the sale of gas supply and electric generation services (it should be pointed out that Palmco did deny all of the allegations brought forth in the suit). The restitution settlement fund of $3,502,791.66 (fund A) has now been distributed making way for distribution of the second settlement fund of $1,000,000 (fund B). Settlement fund B will be distributed to all Palmco customers who submit a valid claim form along with any of the required supporting documents (keeping good records pays off!). Those who believe they are eligible for a chunk of the B fund can begin by going to the NJAG Palmco Settlement page and clicking the File a Claim tab.
Gotcha. What else do I need to know about the B settlement fund?
- Polar Vortex customers are included in addition to Palmco customers
- The deadline by which all claim forms must be filed is May 18th, 2020
- Distribution checks for the B fund should be mailed on July 6th, 2020
- Any remaining funds up to $400k will be returned to the state of NJ
- Remaining funds over $400k will be returned to Palmco Power, LLC
After clicking the File a Claim tab the Claimant Code shown on the front of the postcard (mailed out February 7th, 2020) must be entered to proceed with the online filing. Examples of the required supporting documents that can be provided is for review under the claim filing section of the NJAG Palmco Settlement page. The Commonly Asked Questions tab can be clicked by those with unanswered questions regarding the settlement (turning an unanswered question into an answered one is quite satisfying). Those who don’t find what they were looking for in the Commonly Asked Questions can reach out to the New Jersey Division of Consumer Affairs for further assistance.
New Jersey Division of Consumer Affairs Contact Information
- 124 Halsey St., Newark, New Jersey 07102