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Old 04-30-2014, 12:34 AM
 
2 posts, read 9,451 times
Reputation: 10

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This past winter, I got a postcard regarding the class action suit against Cobb EMC for failing to pay it's subscribers annual dividends. I went to the website and entered my claim before the due date of Feb 10th 2014. It is now almost May and I cannot find any info on when I can expect payment of my share of the settlement. Can anybody help?
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Old 04-30-2014, 03:25 AM
 
Location: Atlanta
2,862 posts, read 3,819,610 times
Reputation: 1471
2. When will I receive my payment?
This settlement was granted Final Approval by the Court on February 25, 2014. We anticipate that payments for timely-filed, non-deficient claims will be made in July 2014. Those payments will be made in the form of a check. If you chose option one, to receive the present value of your capital credits in a lump sum, you will receive one check for the total amount. If you chose option two, to receive your capital credits over 24.6 years, you will receive a check for all pre-1988 credits and as well as the 1988 and 1989 capital credits. Subsequent payments for those who chose the 24.6 year plan will be made directly by Cobb EMC, and the timing of those payments has not yet been determined.



FAQs: Cobb EMC Settlement Website


Wish I had gotten in on that. I know they must truly owe me something for those ridiculously high bills when I was barely even home most of the time.
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Old 04-30-2014, 05:31 AM
 
2 posts, read 9,451 times
Reputation: 10
Thanks.
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Old 07-25-2014, 02:42 PM
 
2 posts, read 7,923 times
Reputation: 11
Has anyone received their Cobb EMC settlement check? I have not.
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Old 07-25-2014, 07:12 PM
 
924 posts, read 1,455,428 times
Reputation: 370
Quote:
Originally Posted by MLFuller View Post
Has anyone received their Cobb EMC settlement check? I have not.
I haven't.
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Old 07-27-2014, 06:38 AM
 
Location: Georgetown, TX
34 posts, read 57,958 times
Reputation: 15
Nothing here either.
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Old 07-28-2014, 01:56 PM
 
Location: Georgetown, TX
34 posts, read 57,958 times
Reputation: 15
Default Update!

Just read an article from the MDJ saying that as of 7/27/14 a batch of checks are ready to go out and that all checks are to be mailed out by 7/31/14. Here is the link to the article: The Marietta Daily Journal - Cobb EMC to send first wave of lawsuit checks to customers

Julie
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Old 08-02-2014, 10:12 PM
 
2 posts, read 7,923 times
Reputation: 11
Default Cobb EMC payout

Thank you for the update!
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Old 08-04-2014, 02:32 PM
 
Location: Georgetown, TX
34 posts, read 57,958 times
Reputation: 15
Default Doesn't seem right

Well I received my payout today. It is barely over 10% of what I had anticipated from the online information. It is, in fact the amount it said my payment would be discounted-12% of the total payment I was entitled to. The math is the following:

Total payout amount listed 438.86
discount for taking lump sum 12%= 51.57 (this was what I received)
Balance after discount 386.19 (this was what the information appeared to be saying would be my payout)

Anyone else confused or not too happy with their payment?

Julie
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Old 10-26-2014, 04:20 PM
 
1 posts, read 2,980 times
Reputation: 10
I filed one claim and got my check in August. My mother filed four claims, having used Cobb EMC for about 50 or 60 years. The account was in my father's name and he passed away two years ago. I filled out the correct paperwork for the name change and got the confirmation. I e-mailed the people in charge a couple of weeks ago and they said they needed a copy of the death certificate. I e-mailed it to them. Does anybody have any idea what is going on with the claims like this?
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