| Voucher Application Form
Opt Out Application Form Important: Please Read this Notice as it May Affect Your Rights TO: All Current or Past Payday Loan Customers of Cash Money Cheque Cashing Inc. NOTICE OF CERTIFICATION OF A CLASS PROCEEDING, AND APPROVAL OF SETTLEMENT PURPOSE OF THIS NOTICE On June 15, 2009, the Ontario Superior Court of Justice certified as a class proceeding an action brought against Cash Money Cheque Cashing Inc. (“Cash Money”), and approved a settlement of this class action. The Action alleged that Cash Money charged and received interest on its payday loans at rates in excess of an effective annual rate of 60%, and sought damages in relation thereto on behalf of the Class. The settlement reached by the parties is a compromise of disputed claims, and is not an admission of liability by Cash Money. The Class Members are: “All persons resident in Canada, excluding those resident in British Columbia or Québec, and excluding Cash Money, its officers, directors, agents or affiliated companies, who obtained one or more payday loan(s) from Cash Money Cheque Cashing Inc. on or before June 15, 2009.” (the “Class”) THE TERMS OF THE SETTLEMENT The settlement approved by the Court provides that every Class Member may apply for and receive one (1) $50 voucher, which may be applied against any current or future payday loan at Cash Money. There will be a total of $5,700,000.00 worth of vouchers available to the Class. The vouchers are fully transferable, but only one may be used in respect of any one payday loan transaction. Application forms will be available at any Cash Money location, other than locations in British Columbia or Québec until March 15, 2010, or may be downloaded from the website www.cashmoneyclassaction.com. Each Class Member must complete the application form in full and submit it to the address indicated on the application form in order to receive a voucher. Processing of the voucher applications will commence on September 16, 2009, after the opt out period has expired. In addition to the vouchers, Cash Money will pay $5.00 per redeemed voucher to the Ontario Class Proceedings Fund, and Cash Money will also pay legal fees to Class Counsel in the total amount of $380,000.00 plus disbursements and taxes. In exchange for these settlement benefits, the Class Members will release any and all claims against Cash Money arising from or in any way related to or connected with the matters in the action. That means that Class Members will be barred forever from asserting or pursuing any further claims against Cash Money in respect of its charging and receipt of interest at an effective annual interest rate in excess of 60% at any time prior to June 15, 2009. This is a summary only. The full terms of the settlement are available to be viewed at www.cashmoneyclassaction.com. OPTING OUT OF THE CLASS ACTION AND SETTLEMENT If you fall within the definition of the Class, and you do not wish to be bound by the terms of the settlement or otherwise do not wish to be included in this class action, you have the right to opt out. If you wish to be excluded from the settlement and this class proceeding, then you must complete an Opt Out Form and return it to Class Counsel by no later than September 15, 2009. Opt Out Forms will be available at any Cash Money location, other than locations in British Columbia or Québec until September 15, 2009 or may be downloaded from the website www.cashmoneyclassaction.com. ADDITIONAL INFORMATION If you would like further information about the terms of the settlement, please contact: Paliare Roland Rosenberg Rothstein LLP
Barristers
250 University Avenue, Suite 501
Toronto, ON M5H 3E5
Tel: (416) 646-4300
Fax: (416) 646-4301
www.paliareroland.com
Attn: Cash Money Class Action PUBLICATION OF THIS NOTICE HAS BEEN AUTHORIZED BY THE ONTARIO SUPERIOR COURT OF JUSTICE. |