Class-Action Lawsuit Possible?
I was just informed by mail of a class-action lawsuit on behalf of savings accountholders of CapitalOne 360. The law firm handling it is Wolf Popper LLC.
The postcard tells me I won't get an automatic direct-deposit if the amount is $5.00. My personal opinion of this type of lawsuit is low; very low. I believe that many class action lawsuits get "settled", because of the expense the Defendant faces for fighting it.
They are gravy trains for the group of lawyers who file them. The lawyers make a lot of money; pay-outs to Plaintiffs (here, savings accountholders) are often puny.
I wonder if Wolf Popper LLC might be interested in suing The Summit Community Association, Inc. for violating the CC&Rs and starting a lawsuit against me. Art. XIII, §10 Litigation clearly prohibits this lawsuit without approval of the Voting Members.
2,480 homeowners are being harmed, because HOA funds are being paid out illegally for legal expenses for this unauthorized, prohibited lawsuit.
Approval was impossible for many reasons:
- The Board needed approval of 75% of the Voting Members before it could approve the lawsuit.
- According to the Minutes of Board Meetings, the Board never sought approval of the Voting Members.
- Voting Members never asked the homeowners for approval. 75% of the homeowners in a neighborhood had to approval, before its Voting Member could approve.
- According to the Minutes of Board Meetings, the Voting Members never approved the lawsuit.
- The Voting Members never could have approved the lawsuit, because there aren't enough legitimate, duly-elected Voting Members to do so.
- According to the Minutes of Board Meetings, the Board never voted to approve the lawsuit.
- According to the Minutes of Board Meetings, the Board never voted to authorize Danny Trapp, Board President, to instruct the HOA's lawyers to file the lawsuit.
You've heard, "No good deed goes unpunished." This wasn't even a "good deed". How should it be punished?
Would Wolf Popper LLC sue The Summit's HOA for $50,000,000 or more? How much liability insurance does the HOA have? Not $50,000,000, I'll bet. So the HOA (the Members) would have to fund the legal expense of the lawsuit above its insurance limit. How large would the special assessment be to cover legal fees?
This is the risk that the Board of Directors has put on the Association. Almost no one (except Gus Philpott and the Covenants Committee) is speaking out against the Board.
Is the lawsuit against Gus Philpott silencing homeowners? If you think that might be the case. Google "SLAPP" (Strategic Lawsuit Against Public Participation).
A "Voting Member" told me recently that "my fight" is costing the HOA a lot of money. Well, folks, it's not "my fight". The HOA started the lawsuit. It's the HOA's "fight".
Since the Board never approved it, it might not even be the HOA's fight, although the HOA is the Plaintiff. Is this Danny Trapp's "fight"?
If the Boards (past and present) had just followed the CC&Rs, By-Laws, and approved Guides, they never would have heard from me.
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