Now it is my turn to be outraged. Co-blogger Alex was upset yesterday by a class action lawsuit against his tiremaker, $19 million for the lawyers, nothing for the relevant set of plaintiffs (who weren’t even injured, should that make you feel better or worse about the whole thing? Worse, I say.)
Today I received a notice of a class action suit concerning Western Union, and of a proposed settlement. I frequently send money to my Mexican painter friends, usually using Western Union.
Why the class action suit?
…the Defendants [made] misrepresentations about or otherwise failing to disclose to customers the fact that they received a more favorable exchange rate for converting U.S. dollars to foreign currency and foreign currency to U.S. dollars than they provided to their customers.
Imagine that, a middleman buying and selling at different prices! It feels like something out of Atlas Shrugged.