class action lawsuit against ETRADE Financial Corporation that was pending at the LA County Superior Court. I guess ETRADE was found to sometimes have recorded phone conversations without informing the customers at the very beginning of the phone call. We all know those annoying messages we hear when we make a call to banks or brokerages... "this call may be monitored or recorded for training purposes" blah blah blah.
The site stated that if you reside in California (among a few other states), and received a phone call from ETRADE between some time in 2003 and 2009 then you can join the class action lawsuit. Well I know for sure I opened my account during that time frame, and definitely received a phone call from them confirming some account security information (I opened my account online). But of course I can't remember if they informed me whether they were recording the conversation or not. So I figured I'd just sign up and probably nothing will ever come out of it. I made my boyfriend do it too because he also had an ETRADE account.
Well, I came home today and surprise surprise! A class action settlement check arrived in the mail for $620! My boyfriend got one too thanks to me so he can buy me some presents. Sweet!!! We totally forgot about all of this! I then went online to read about it, and apparently they settled for $7,500,000. Wow! I can't believe it. I wonder how the representative plaintiff even found out that they were recording conversations without notice in the first place??? Maybe they worked for ETRADE? Well, that person scored $80,000 from this. Omg. I shoulda had this idea too! From now on I will be paying CLOSE attention to all those messages regarding my privacy! Hehehe
Hmmm... what will I do with my new found wealth?? I can think of so many ways...