BP WCP LLC are part of a suite against ARCO gas stations as part of a multi million-dollar class action settlement that affects nearly two million people, mostly from Oregon. I’m not from Oregon, but I have filled up in the state several times.
Full Answer
Where did the money from the BP lawsuit come from?
Some weren’t sure what they’d done to receive the money or what to do if they didn’t get their checks. The money came from a class-action judgment against BP in a case titled Scharfstein v. BP West Coast Products. That company owns the Arco gas station chain and the affiliated am/pm convenience stores.
Are BP settlement checks a scam?
The nonprofit organization Oregon Consumer Justice, in partnership with Attorney General Ellen Rosenblum of the Oregon Department of Justice, wants the public to know that the checks are not a scam; they are a settlement from a class action lawsuit against BP.
What was the settlement agreement with BP?
BP Settlement Agreements The BP settlement is expected to resolve most private economic loss, property damage and injury claims stemming from the Gulf of Mexico oil spill tragedy. In its agreement, BP has reached two separate settlement agreements. The first BP settlement compensates private economic losses related to the oil spill.
How does the BP oil spill settlement affect you?
The BP oil spill settlement holds the company fully accountable to individuals and businesses affected by the spill and requires that they fully satisfy all eligible claims. If you were harmed by the Gulf of Mexico spill, you may still be able to make a claim for compensation.
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About this website
Why did I get a Notice of class action settlement?
If you received a class action notice in the mail, this simply means that your legal rights may be affected by a lawsuit that was recently filed or settled. Notices are sent to people whose rights could be affected by a class action.
Should I participate in a class action settlement?
In most cases, it is a good idea to join the class action if you believe you suffered injuries or financial losses caused by the defendant. We do recommend you give us a call and discuss your situation with one of our class action lawsuit attorneys before you make a decision, however.
What is scharfstein V BP WCP?
The mass mailing of settlement checks is the result of a class action lawsuit known as Scharfstein v. BP West Coast Products LLC. The suit was brought against ARCO's owner BP West Coast Products, on behalf of people who used a debit card to buy gas at Oregon ARCO and am/pm gas stations.
How is money distributed in a class action lawsuit?
How Is a Class Action Lawsuit Paid Out? If your class action lawsuit is successful, you will receive a portion of the settlement or court award. Plaintiffs are paid by a lump-sum payment or a structured settlement. Smaller payouts are usually dispersed as a single payment.
Is there a downside to joining class action lawsuit?
The risk of a class-action lawsuit is that if you lose, you will not receive any compensation for your injuries. If you win, however, you will receive a financial or other non-monetary award.
How much can you expect from a class action lawsuit?
A class action usually ends in a settlement as opposed to going to trial. Settlements in recent years have averaged $56.5 million.
Are class action settlements taxable?
The general rule of taxability for amounts received from settlement of lawsuits and other legal remedies is Internal Revenue Code (IRC) Section 61 that states all income is taxable from whatever source derived, unless exempted by another section of the code.
Will I get a 1099 for a class action lawsuit settlement?
You won't receive a 1099 for a legal settlement that represents tax-free proceeds, such as for physical injury. A few exceptions apply for taxed settlements as well. If your settlement included back wages from a W-2 job, you wouldn't get a 1099-MISC for that portion.
What is the common settlement?
Common-Fund Settlement – These settlements are typical of antitrust, securities, and employment class actions. Claimants receive pro rata shares of the common settlement fund to some set formula. The amount each claimant receives is a function of the number of claims, and the entire fund is distributed.
What are the pros and cons of a class action suit?
Pros And Cons Of Class Action LawsuitMore Strength as a Group. ... Your Lawsuit Charges are Significantly Less. ... Advantageous to the Judicial System. ... Guaranteed Settlements. ... Very Little Agency in the Matter. ... Class Action Lawsuits Take a Very Long Time to Settle. ... Class Action Lawsuits Cannot Be Reapplied To.
Are class action settlements taxable?
The general rule of taxability for amounts received from settlement of lawsuits and other legal remedies is Internal Revenue Code (IRC) Section 61 that states all income is taxable from whatever source derived, unless exempted by another section of the code.
How long does it take to get a settlement check from class action?
Some class action lawsuits can take as little as a few months and as long as several years. These kinds of cases can typically take around two or three years to be resolved, while others can take even longer. When court rulings are appealed, the process gets further prolonged.
What does it mean to be part of a class action lawsuit?
What is a Class-Action Lawsuit and How Does it Work? A class-action lawsuit is a civil lawsuit brought on behalf of a group of people or business entities who have suffered common injuries as a result of the defendants' conduct, with at least one individual or entity acting as a representative of that group.
Scharfstein v. BP West Coast Products, LLC - Justia Law
Scharfstein v. BP West Coast Products, LLC
Scharfstein v. BP West Coast Products, LLC - Willamette University
Under ORS 646.608(1)(u), the Attorney General has rulemaking authority for protecting consumers from “any other unfair or deceptive conduct in trade or commerce.”
Who brought the class action against Arco?
Oregon lawyer David Sugerman brought the class action on behalf of customers who were charged an extra $.35 cents for debit card transactions, an amount that wasn’t advertised at the pump. I’ve always had an issue with this fee at ARCO stations because a debit card should act like cash, not credit.
How many times a day does BP charge for ARCO?
According to court records, BP (British Petroleum and franchisor of ARCO stations), continued to charge the fee over 10,000 times a day, even after the lawsuit was filed in 2011.
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Does BBB endorse any business?
If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. As a matter of policy, BBB does not endorse any product, service or business.
Can BBB be reproduced?
BBB Business Profiles may not be reproduced for sales or promotional purposes. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate.
