Class-action settlements Canadians could cash in on this year
With the soaring cost of living Canadians may be looking for easy ways to make extra cash.
You could try and look for a side hustle, but even that could prove to be a struggle.
Thankfully, there are ways you could get extra money without having to lift a finger.
Here are five settlements some Canadians could cash in on this year if you’re eligible.
$42M electronics class-action settlement
A combination of class-action settlement proposals has been reached totalling $42,165,000, and Canadians could get a chunk of the finalized cash.
According to a new release from law firm Foreman & Company, the class actions allege price-fixing and related conduct on behalf of Canadians who bought electrolytic and film capacitors and products containing electrolytic and film capacitors.
These items are found inside electronics like TVs, home appliances, smartphones, and gaming consoles, among other things.
Motions to approve the settlements are scheduled to be heard at the Ontario Superior Court of Justice on September 28, 2023, the Supreme Court of BC on October 13, 2023, and the Superior Court of Quebec on September 26, 2023.
Click here to learn more about the class-action settlement.
US$725M Facebook settlement
AngieYeoh/Shutterstock
Some Canadian Facebook users could get cash from a massive class-action lawsuit against parent company Meta.
Several Facebook users sued Meta for allegedly sharing user data and data about users’ friends without permission.
According to the lawsuit, they claimed that the tech giant did not “sufficiently monitor and enforce third-party access or use of that data” on Facebook.
While the court did not decide in favour of any party, the class-action plaintiffs and Meta (the defendant) agreed to a settlement to avoid the costs and risks of a trial.
If the court approves the settlement, Meta will establish a fund of a whopping US$725 million (C$982 million) to pay all valid claims submitted by those eligible for the payment.
Canadians could file a claim for this settlement if they resided in the US and used Facebook between May 24, 2007, and December 22, 2022.
The deadline to claim a piece of this gigantic settlement was Friday, August 25, so hopefully you were able to submit a claim!
$78M automotive parts settlement
A nationwide settlement has been reached in dozens of class action lawsuits relating to the alleged price fixing of certain automotive parts, and some Canadians could get a chunk of the money.
Courts in Toronto, Vancouver, and Quebec City approved the settlement totalling approximately $78 million in 23 class actions alleging “unlawful conspiracies to fix prices of auto parts for installation in new vehicles,” according to the law firms.
There are several affected car brands ranging from Toyota to Aston Martin.
According to the settlement, drivers who bought or leased a new car sold under these brands between July 1, 1998, and September 30, 2016, are eligible to receive compensation.
If you’re eligible, you can claim your portion of the settlement here. The deadline to submit a claim is October 30, 2023.
$4.9M LifeLabs class-action lawsuit
LifeLabs (JHVEPhoto / Shutterstock)
Emails about a LifeLabs class-action lawsuit are going around and it could mean some money in your pocket if a proposed settlement is approved.
If a settlement is approved, the amount you see in your pocket depends on the number of people who make a claim.
The proposed settlement is in response to a major security breach that occurred in 2019.
According to KPMG, an audit, tax, and advisory firm, if the class-action settlement is approved, LifeLabs would be paying a guaranteed amount of $4.9 million and up to a further $4.9 million based on the number of claims.
Anyone who completes a valid claim would be eligible to receive $50 up to a maximum of $150, minus taxes and court fees.
To be eligible, you had to have been a customer of LifeLabs and had your personal information stored on systems that were compromised on December 16, 2019.
A settlement approval hearing is scheduled for October 25, 2023.
CRA class-action lawsuit
A new class-action lawsuit against the Canada Revenue Agency (CRA) could give extra cash to some Canadians.
The lawsuit asks the court to order the Government of Canada to pay compensation for the alleged breach of privacy and credit monitoring services that may be needed to repair the harm caused.
If you received notice or have reason to believe that you may have experienced a privacy breach between March 1, 2020, and December 31, 2020, on a Government of Canada online account, you could be included in the lawsuit.
In this case, a Government of Canada online account means a CRA My Account (which many use to access or apply for benefits like the CCB); My Service Canada account; or any other account that is accessed by using the Canadian government’s branded credential service — GCKey.
“If you meet the above-mentioned class definition, you are automatically included in the class action. You do not have to do anything to participate,” reads a release from the CRA.
There are no specifics yet as to how much Canadians could get if there is a settlement.
“In the class action, damages will be sought for the class as a whole,” reads the release. “The judge will decide how any such damages should be divided between class members.”
According to the CRA, a judge will decide who is right at trial. The date for that trial has yet to be decided.
With files from Amir Ali and Isabelle Docto
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