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Verde Energy Variable-Rate Plan Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

This settlement resolves multiple class actions against Verde Energy USA, Inc., Verde Energy USA Ohio, LLC, Verde Energy USA, Massachusetts, LLC, and Verde Energy USA New York, LLC. The complaint alleges that the companies’ variable rate plans in Massachusetts, New York, Ohio, Illinois, New Jersey, and Pennsylvania charged electricity rates that were not priced according to market conditions, as promised.

Docket Number:

1:18-cv-02068

Company: Verde Energy USA Inc.

Filing Deadline: March 31, 2022

Class Period: January 31, 2008 to October 31, 2015

Objection Deadline: December 1, 2021

Exclusion Deadline: December 1, 2021

Final Approval Hearing: December 17, 2021

Proof of Purchase:

Presumably company records will be used for verification.

Eligibility:

You may be eligible if you are a residential electricity customer who enrolled in a variable rate electricity plan of one of the Verde defendants or who was charged a variable electricity rate in connection with a property located in the following states during the following periods:

- Massachusetts, April 17, 2013 to October 31, 2015
- New York, January 21, 2014 to October 31, 2015
- Illinois, January 31, 2008 to October 31, 2015
- New Jersey, January 21, 2012 to October 31, 2015
- Ohio, June 24, 2012 to October 31, 2015
- Pennsylvania, January 1, 2012 through October 31, 2015

Also included are customers in Pennsylvania who became customers of Verde Energy USA, Inc. variable rate plans beginning in 2018 when their customer relationships were transferred to Verde from Oasis Power, LLC.

Not included are those whose only contract with Verde contained either a Governing Law and Arbitration clause or an Agreement for Mandatory Arbitration & Class Action Waiver clause. For more information on where these clauses may be located in your agreement with Verde, see the Frequently Asked Questions on VariableRateEnergySettlement.com. However, if you do not have your agreement and cannot find it, you will NOT automatically be disqualified from the settlement.

Typical Settlement Amount:

Pro-rata share of the net settlement fund, based on each customer’s proportional kilowatt-hour usage during the class period.

Total Settlement Amount: $7,000,000

Class Representative Proposed Incentive Fee:

$5,000-$25,000

Law Firms:
Milberg Coleman Bryson Phillips Grossman, PLLC
Shub Law Firm LLC
Wexler Wallace

Claim Form: Verde Energy Variable-Rate Plan Settlement Claim Form

Case Name: Mercado, et al. v. Verde Energy USA, Inc., et al.

Settlement Website: Verde Energy Variable-Rate Plan Settlement Website

Claims Administrator:
Epiq Class Action & Claims Solutions, Inc.

Claims Administrator Contact Information:

Mercado v. Verde Energy
Settlement Administrator
PO Box 6480
Portland, OR 97228-6480
855-535-1866

Tags: Energy, Variable Rates