Notice of Proposed Settlement of Class Action TO: All persons who, from March 5, 2006 through January 31, 2008, entered into a credit card return transaction with Fry's Electronics, Inc., in the state of California ("Class Members").
IF YOU ARE A MEMBER OF THIS CLASS OF PERSONS, YOU SHOULD READ THIS
NOTICE CAREFULLY BECAUSE IT WILL AFFECT YOUR RIGHTS.
PURPOSE OF THIS NOTICE
This notice informs you about the above-referenced action and a proposed Settlement on behalf of a certain class of persons. This notice advises you of the benefits that may be available to you under the proposed Settlement and your rights and options as a Class Member, and notifies you that hearings will be held to approve the Settlement.
There is currently pending in the California Superior Court for the County of Sacramento an action entitled Krimsky vs. Fry's Electronics Inc., Case No. 07AS00928 (the "Action"). On April 16, 2008, Judge Shelleyanne W.L. Chang of the Sacramento County Superior Court, tentatively approved a proposed settlement in this Action.
WHAT THE ACTION IS ABOUT
Plaintiff Roger Krimsky filed a class action lawsuit against Fry's Electronics, Inc., (hereinafter referred to as "Fry's" or "Defendant'') on behalf of himself and all Class Members. Plaintiff's law firm ("Class Counsel"), which represents Plaintiff and the Class Members, is Westrup Klick, LLP.
The lawsuit alleges that Fry's violated California law by utilizing a return invoice for credit card transactions which conta
ined preprinted spaces designated for filling in the address, telephone and/or fax numbers of the cardholder. Fry's denies that it has violated California law, and denies that any class member is entitled to any relief. However, to avoid the expense, inconvenience and interference with its business operations created by the Action, it has concluded that it is in its best interests to settle the Action on the terms summarized in this Notice.
The settlement was reached through lengthy arms-length negotiations between the parties and with the assistance of a neutral mediator, the Honorable Richard Silver (ret).
The Court has determined that the Action should proceed as a Class Action, for purposes of settlement only, with Plaintiff as the representative of the Class, and granted preliminary approval of the settlement, subject to a final fairness hearing discussed below.
THE PROPOSED SETTLEMENT THE PARTIES HAVE AGREED TO THE SETTLEMENT GENERALLY DESCRIBED BELOW:
Fry's has agreed to cease utilizing a return invoice form for credit card transactions which contain preprinted spaces designated for customers' addresses, telephone and/or fax numbers, except in those instances where required for a special purpose. Such change is subject to modification in relation to modification of the law permitting such.
Class Members who submit a timely Claim Form as described below shall be eligible to receive a 20% off coupon (maximum value of $20 off).
The Parties agreed that, subject to the Court's final approval, the named Plaintiff, Roger Krimsky, shall be entitled to an incentive award of up to $2,500 in recognition of the risk to Plaintiff as the Class representative in commencing the lawsuit in the Action, both financial and otherwise; the amount of time and effort spent by Plaintiff as the Class representative; and for serving the public interest. The
Parties also agreed that subject to the Court's final approval, Class Counsel shall be entitled to an award of attorneys' fees and costs of up to $150,000. The Payment of attorneys' fees will not affect the benefits provided to the Settlement Class.
RELEASE OF ALL CLAIMS
If the settlement is granted final approval, Fry's and each of its past or present officers, directors, shareholders, employee's, agents, principals, heirs, representatives, accountants, auditors, consultants, attorneys, insurers and reinsurers, and its and their respective successors and predecessors in interest, subsidiaries, affiliates, parents, subsidiaries, and each of their company- sponsored employee benefit plans and all of their respective officers, directors, employees, administrators, fiduciaries, trustees and agents will be released from all claims, liabilities, demands, debts, accounts, obligations, actions, and causes of action, known or unknown, suspected or unsuspected, at law or in equity, of any kind or nature whatsoever (collectively "Claims") for Defendant's alleged violation of Civil Code Section 1747.08(a)(3).
FINAL FAIRNESS HEARING
A final hearing will be held before Judge Shelleyanne W.L. Chang of the Sacramento County Superior Court, on July 18, 2008 at 9:00 a.m., to determine whether the proposed Settlement is fair, reasonable and adequate and should be finally approved. The hearing will take place at the Sacramento County Superior Court, in Dept. 54, located at 720 9th Street, Sacramento, California 95814. You are not required to attend the hearing in order to participate in the settlement.
WHAT YOU CAN DO
1. To Receive A 20% off Coupon. As a Class Member you are eligible to receive a 20%
off coupon (maximum value of up to $20 off). In order to receive your 20% off coupon, you must timely complete and return a valid Claim Form. A Claim Form can be obtained by asking for a Claim Form at a Fry's return register or by downloading a Claim Form at www.frys.com. In order for the Claim Form to be considered, it must be postmarked by July 25, 2008, and mailed to Krimsky v. Fry's Electronics Claims Administrator, c/o Desmond, Marcello & Amster, P.O. Box 451999, Los Angeles, California 90045.
2. To Exclude Yourself From The Settlement. As a Class Member, you have the right to exclude yourself from the Action and the settlement. If you are a Class Member and wish to be excluded, you must submit a letter or postcard post-marked no later than June 25, 2008 with the case name, your name, address, and telephone number, stating "I wish to be excluded from the Fry's Class Action." To be considered valid, a request for exclusion must set forth all of this information and must be timely received. It must be signed by you personally, in order to be valid. Your request must be sent to: Fry's Class Action: Krimsky v. Fry's Electronics Claims Administrator, c/o Desmond, Marcello & Amster, P.O. Box 451999, Los Angeles, California 90045.
If you timely and validly request exclusion from the Class, you will be excluded from the Class; you will not receive any benefits from the settlement; you will not be bound by the judgment entered in the Action and you will not be precluded from otherwise prosecuting any individual claim, if timely, against Fry's based on the transactions complained of in the Action. If you do not wish to exclude yourself, and have no objection to the settlement, you are eligible to receive the benefits of the settlement if the settlement is approved.
3.To Object To The Settlement. If for some reason you desire to object to the terms of the settlement, you ma
y do so under the procedures set forth below. If your objection is rejected you will be bound by the final judgment just as if you had not objected.
If you decide to appear and object, you must file and serve your written request to appear and object with the Court, and upon Counsel for all of the parties by June 25, 2008. You must serve all such notices and papers upon Class counsel and Defendant's counsel at the following addresses:
Phillip R. Poliner, Esq.Westrup Klick LLP
444 West Ocean Blvd.,
Suite 1614Long Beach, CA 90802
(Plaintiff Class Counsel)
William H. Curtis, Esq.
Fry's Electronics, Inc.
600 East BrokawSan Jose, CA 95112
(Defendant Class Counsel)
The mailing address for the Final Approval Hearing is:
Sacramento County Superior Court
720 9th Street
Sacramento, California 95814
Class Members who do not timely make their objections in this manner will be deemed to have waived all objections and shall not be entitled to be heard at the settlement approval hearing.
If you have further questions regarding this lawsuit you may contact Plaintiffs' Class Counsel, Phillip R. Poliner Esq., of Westrup Klick LLP, at 1-888-268-6884. DO NOT ADDRESS ANY QUESTIONS ABOUT THE SETTLEMENT OR THE LITIGATION TO THE CLERK OF THE COURT, TO THE JUDGE, OR TO COUNSEL FOR DEFENDANT.