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Class action lawsuits are those in which one or more persons sue to a larger group or a company. If the suer wins, then the cash settlement is given out to everyone who was affected by the case in question.
Nike has stopped its production of new versions the Nike+ Fuelband after settling a class action lawsuit yesterday. Customers were complaining whether the wristband actually did what it was supposed to do. Apple was also named during the lawsuit, but both companies report that they didn’t do anything wrong.
What Is The Claim?
To view the full details of the claim click here. The lawsuit ended in the claim that false statements were made regarding the Fuelband’s ability to track calories, steps and NikeFuel. The settlement stops the court from making a decision, which means that Nike agrees to pay without actually admitting they did anything wrong.
How Much Do You Get Paid And How?
You can either claim your settlement for a $25 dollar Nike gift card or $15 dollars in cash. This only applies to those who purchased the FuelBand between January 19th, 2012 and January 17th, 2015.
Here are the steps you need to take in order to claim your cash or gift card. It can be done in 3 easy steps.
1. Click here to fill-out a claim form. You won’t receive payment until you submit a claim form.
2. Fill in the required information, such as the serial number to your Fuelband as well as an address so they know where to send you the money. Make sure to fill it out before January 4th, 2016.
3. Wait for you money. Expect up to a year to receive your check in the mail. While it is a long time to wait, it will definitely be a nice surprise when you get it. Remember, you have to choose between a $25 gift card to Nike or $15 in cash, but not both.
I Claimed The Gift Card. What Are Some Great Ways To Save On My Next Nike Purchase?
If you claimed the gift card for $25 dollars to all Nike stores, you’re either going to have to resell it or buy something from their store. The gift card never expires.
I want to sell it.
If you’re trying to get the most cash back possible, you can actually claim the Nike Gift Card and then sell it for $21, which is higher than the other choice of the $15 dollar settlement claim. How you can do this is through a gift card reseller called Cardpool.
When you sell your Nike Gift Card through Cardpool, you get 84% of its value in cash. Create a Carpool account here. Login and click sell your gift card. Select Nike as an option and follow the steps.
I want to buy something from Nike.
I personally don’t have a FuelBand, but if you do it might have been giving you inaccurate readings. Make sure to claim your settlement check before January 4th of 2016.
A great way to check and see which class action lawsuits are currently available for cash redemption is through a website called Class Action Rebates. They even sell you email updates on new settlement cases. I was granted $10 dollars just because I purchased Red Bull and it never gave me wings.
If you have any questions or comments, feel free to leave them in the box below. We’ll be more than happy to answer them. Thanks for reading any happy frugaling!