Palombaro v Emery Federal Credit Union Settlement

Palombaro v Emery Federal Credit Union

Case Summary

On September 27, 2018, the U.S. District Court for the Southern District of Ohio entered an Order Approving Settlement Agreement and Granting Attorneys’ Fees, Expenses, and Service Awards.  That Order can be viewed here . Under the timeline set forth in the Settlement Agreement, barring any unforeseen event, settlement benefits are expected to mail in the beginning of November. If you would like to update your address, you may contact us by telephone at 1-866-651-8253, mail your request to Palombaro et al. v Emery Federal Credit Union Settlement Administrator, P.O. Box 404041, Louisville, KY 40233-4041, or by e-mailing Class Counsel at mps@sgs-law.com. 

This Notice concerns a proposed class action settlement (“Class Action Settlement”) in a lawsuit entitled Palombaro v. Emery Federal Credit Union, in the U.S. District Court for the Southern District of Ohio (the “Lawsuit”). If you were a borrower or co-borrower on a residential mortgage loan either originated or brokered by Emery Federal Credit Union (“Emery”) that was closed by Genuine Title, LLC (“Genuine Title”) between January 1, 2009 and December 31, 2014, you may be eligible for benefits under the Class Action Settlement.

 

YOUR LEGAL RIGHTS AND OPTIONS IN THIS CLASS ACTION SETTLEMENT

EMERY CLASS MEMBERS NEED NOT FILE A CLAIM TO BE CONSIDERED CLASS MEMBERS

If the Court gives final approval to the Class Action Settlement and after all potential appeals are exhausted, Emery Class Members will be eligible to receive the Settlement Benefits as described in the Notice without submitting a claim.

Anticipated payment date: Ten (10) days after the Class Action Settlement becomes final and  any appeals are exhausted.

IF YOU WISH TO BE EXCLUDED FROM THE CLASS ACTION SETTLEMENT, YOU MUST MAIL A REQUEST FOR EXCLUSION BY NO LATER THAN APRIL 16, 2018

This is the only option that allows you to retain your rights to independently sue Emery about the claims in this Lawsuit.  In order to exclude yourself from the Class Action Settlement, you must follow the procedure described in the Notice and mail your Request for Exclusion to the Settlement Administrator at: Palombaro et al. v Emery Federal Credit Union Settlement Administrator P.O. Box 404041, Louisville, KY 40233-4041.

The Exclusion Deadline for Requests for Exclusion to be mailed to the Settlement Administrator: April 16, 2018

IF YOU WISH TO OBJECT TO THE CLASS ACTION SETTLEMENT, YOU MUST FILE YOUR WRITTEN OBJECTION WITH THE COURT BY NO LATER THAN APRIL 16, 2018

You may write to the Court about why you object to (i.e., don’t like) the Class Action Settlement and think it should not be approved. You must follow the procedure described in the Notice for objecting to the Class Action Settlement and file your written objection with the Court at: Clerk’s Office, U.S. District Court for the Southern District of Ohio, 100 East Fifth Street, Cincinnati, OH 45202. You must also mail copies of your written objection to Class Counsel and Emery’s Counsel. The address for Class Counsel is: Michael Paul Smith, Smith, Gildea & Schmidt, LLC, 600 Washington Avenue, Ste. 200, Towson, MD 21204. The address for Emery’s Counsel is: Michael Kieval, Weiner Brodsky Kider PC, 1300 19th Street, NW, 5th Floor, Washington, DC  20036. If you exclude yourself from the Class Action Settlement, you may not object to the Class Action Settlement because you will no longer be bound by it.

The Objection Deadline for the Filing of Objections with the Court: April 16, 2018

IF YOU WISH TO ATTEND THE “FINAL FAIRNESS HEARING” ON THE CLASS ACTION SETTLEMENT

The Court will hold a “Final Fairness Hearing” to consider the Class Action Settlement, Class Counsel’s request for attorneys’ fees and expenses, and the Class Representatives’ request for service awards. If you do not exclude yourself from the Class Action Settlement, you may, but are not required to, speak at the Final Fairness Hearing if you have filed a timely written objection with the Court. If you intend to speak at the Final Fairness Hearing, you must include your intention to do so in your written objection.

Scheduled Date, Time, and Location of Final Fairness Hearing: July 10, 2018 at 10:00a.m. in Courtroom 7 of the U.S. District Court for the Southern District of Ohio, 100 East Fifth Street, Cincinnati, OH 45202.

IF YOU DO NOTHING AND ARE AN EMERY CLASS MEMBER

If you do not timely exclude yourself from the Class Action Settlement and the Court gives final approval to the Class Action Settlement at or after the Final Fairness Hearing, you will not be able to sue Emery for the Released Claims under the Class Action Settlement, but you will still be eligible to receive the Settlement Benefits described in the Notice.