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TLSG Assists Clients in Recovering Additional Interest from Class Action Suit

Recently, the Franklin County Court of Common Pleas approved of a settlement in a class action lawsuit brought in 2004 against the State of Ohio’s Division of Unclaimed Funds (hereafter, “Division”) for its failure to pay interest earned by the State during the time that the Division was in custody of claimants’ unclaimed funds. The case, Sogg v. Goodman, challenged a 1991 amendment to Ohio Revised Code 169.08(D). The statute eliminated the requirement that the Division pay interest to claimants of unclaimed funds held by the State. The settlement provides that claimants who recovered at least $5 from the Division since August 3rd, 2000, are eligible to receive interest accumulated while the State was holding their funds. The State is expected to pay more than $9.5 million to eligible claimants. TLSG is proud to announce that it is working closely with the settlement administrator and class counsel in ensuring that its clients entitled to unpaid interest payments receive their proceeds from the settlement.

  • As detailed by Jenn Strathman in “Ohio Consumers Will Get $9.5 Million to Settle Unclaimed Funds Lawsuit” (NewsNet5.com, September 7, 2012) and Sheryl Harris in “Ohioans to Receive Interest on Unclaimed Funds” (The Plain Dealer, July 23, 2012). Click here to view Strathman’s article, and click here to view Harris’s article.
  • Click here to view more documents pertaining to Sogg v. Goodman.

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