STATUS REPORT RE: Settlement Fund Distribution & Post-Distribution Accounting by Caroline… — Plaid Privacy (Dkt. 190)

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Co-lead class counsel's status report on settlement fund distribution and post-distribution accounting in In re Plaid Inc. Privacy Litigation, Master Docket No. 4:20-cv-03056-DMR, in the U.S. District Court for the Northern District of California, dated and filed March 1, 2023 as Document 190. It states that the initial electronic payments and paper checks issued on November 16, 2022, and that later-validated claims are being paid by paper check with a final distribution expected by July 1, 2023. Because class members are still trying to deposit initial checks at a rate of approximately 215 checks per day, the parties agreed to extend the stale date for those checks to July 31, 2023. Counsel anticipate filing the post-distribution accounting on or before August 21, 2023.

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2752740.3  
 
STATUS REPORT 
CASE NO. 4:20-CV-03056-DMR  
 
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HERRERA KENNEDY LLP 
Shawn M. Kennedy (SBN 218472) 
skennedy@herrerakennedy.com 
Bret D. Hembd (SBN 272826) 
bhembd@herrerakennedy.com 
4590 MacArthur Blvd., Suite 500 
Newport Beach, CA 92660 
Tel: (949) 936-0900 
Fax: (855) 969-2050 
 
HERRERA KENNEDY LLP 
Nicomedes Sy Herrera (SBN 275332) 
nherrera@herrerakennedy.com 
Laura E. Seidl (SBN 269891) 
lseidl@herrerakennedy.com 
1300 Clay Street, Suite 600 
Oakland, CA 94612 
Tel: (510) 422-4700 
Fax: (855) 969-2050 
 
LIEFF CABRASER HEIMANN & 
BERNSTEIN, LLP 
Rachel Geman (Pro Hac Vice) 
rgeman@lchb.com 
250 Hudson Street, 8th Floor 
New York, NY 10013-1413 
Tel: (212) 355-9500 
Fax: (212) 355-9592 
 
Co-Lead Class Counsel 
LIEFF CABRASER HEIMANN &  
BERNSTEIN, LLP 
Michael W. Sobol (SBN 194857) 
msobol@lchb.com 
Melissa Gardner (SBN 289096) 
mgardner@lchb.com 
Michael K. Sheen (SBN 288284) 
msheen@lchb.com 
Nicholas R. Hartmann (SBN 301049) 
nhartmann@lchb.com 
275 Battery Street, 29th Floor 
San Francisco, CA 94111-3339 
Tel: (415) 956-1000 
Fax: (415) 956-1008 
BURNS CHAREST LLP 
Christopher J. Cormier (Pro Hac Vice) 
ccormier@burnscharest.com 
4725 Wisconsin Avenue, NW, Suite 200 
Washington, DC 20016 
Tel: (202) 577-3977 
Fax: (469) 444-5002 
UNITED STATES DISTRICT COURT 
NORTHERN DISTRICT OF CALIFORNIA 
OAKLAND DIVISION 
IN RE PLAID INC. PRIVACY  
LITIGATION 
Master Docket No.: 4:20-cv-03056-DMR 
 
STATUS REPORT RE: SETTLEMENT 
FUND DISTRIBUTION AND POST-
DISTRIBUTION ACCOUNTING 
 
 
Case 4:20-cv-03056-DMR   Document 190   Filed 03/01/23   Page 1 of 4

 
 
 
2752740.3  
 
STATUS REPORT 
CASE NO. 4:20-CV-03056-DMR  
 
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Co-Lead Class Counsel respectfully submit this Status Report concerning the distribution 
of the Settlement Fund and the anticipated timing of the Post-Distribution Accounting required by 
the Court’s July 20, 2022 Order Granting Final Approval of Class Action Settlement (Dkt. 184 at 
23) and this District’s Procedural Guidance for Class Action Settlements (the “Guidance”). 
The Settlement Agreement requires that the Net Settlement Fund be distributed, in the 
first instance, to Class members who submit valid claims on a pro rata basis.  See Dkt. 138-1 
(Settlement Agreement) ¶ 78(b).  Funds from stale checks (i.e., checks not cashed within 90 days 
after the date of issuance) revert to the Settlement Fund for redistribution to other Authorized 
Claimants or a subset thereof.  See id. ¶ 78(b)(iv).  If such redistribution is not economically 
feasible, the reverted funds from stale checks instead may be distributed to the Cy Pres 
Recipient(s).  Id.  Under either scenario, the Settlement Agreement contemplates that reverted 
funds will be distributed within forty-five (45) days after the settlement checks become stale.  Id.  
Pursuant to the Guidance, the parties should file a Post-Distribution Accounting within 21 days 
after the settlement checks become stale or, if no checks are issued, all funds have been paid to 
class members, cy pres beneficiaries, and others pursuant to the Settlement Agreement.   
During the claims process, Class members had the option to choose to receive their 
settlement payments through electronic means or by paper check.  The initial round of electronic 
payments and paper checks issued on November 16, 2022 with an anticipated stale date for those 
paper checks of February 15, 2023.  In the intervening time, the Settlement Administrator has 
continued to review and verify claims that were deficient upon submission, or which appeared 
potentially fraudulent but have since been validated, and claims for which the electronic funding 
information provided by the Class member was erroneous or incomplete.  Many of these claims 
are being funded by paper check upon approval, on an ongoing basis, with stale dates 30 days 
from the date of issue.  The final distribution of paper checks through these processes is expected 
to conclude by July 1, 2023 with an anticipated stale date on or before July 31, 2023. 
In addition, the Settlement Administrator reports that Class members who failed to timely 
deposit paper checks from the initial November 2022 distribution are continuing to attempt to do 
so, at a rate of approximately 215 checks per day.  In light of that, and in order to maximize the 
Case 4:20-cv-03056-DMR   Document 190   Filed 03/01/23   Page 2 of 4

 
 
 
2752740.3  
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STATUS REPORT 
CASE NO. 4:20-CV-03056-DMR 
 
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funds recovered by Class members, the parties have agreed to extend the stale date for those 
initial paper checks to the last date on which checks issued for later-validated claims are expected 
to become stale: July 31, 2023.   
The parties therefore anticipate that the stale date for all checks issued to Class members 
will be on or about July 31, 2023, at which time the Settlement Administrator will be able to 
calculate the funds remaining to be distributed, either in a second distribution to Class members 
or, if that is not economically feasible, to the Cy Pres Recipient(s).  Co-Lead Counsel accordingly 
anticipate providing the Court with a Post-Distribution Accounting on or before August 21, 2023.  
 
Dated:  March 1, 2023 
Respectfully submitted, 
LIEFF CABRASER HEIMANN & BERNSTEIN, LLP 
 
By: /s/ Rachel Geman  
 
 
 
Rachel Geman 
 
LIEFF CABRASER HEIMANN & 
BERNSTEIN, LLP 
Rachel Geman (Pro Hac Vice) 
rgeman@lchb.com 
250 Hudson Street, 8th Floor 
New York, NY 10013-1413 
Tel: (212) 355-9500 
Fax: (212) 355-9592 
 
LIEFF CABRASER HEIMANN &  
BERNSTEIN, LLP 
Michael W. Sobol (SBN 194857) 
msobol@lchb.com 
Melissa Gardner (SBN 289096) 
mgardner@lchb.com 
Michael K. Sheen (SBN 288284) 
msheen@lchb.com 
Nicholas R. Hartmann (SBN 301049) 
nhartmann@lchb.com 
275 Battery Street, 29th Floor 
San Francisco, CA 94111-3339 
Tel: (415) 956-1000 
Fax: (415) 956-1008 
 
Case 4:20-cv-03056-DMR   Document 190   Filed 03/01/23   Page 3 of 4

 
 
 
2752740.3  
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STATUS REPORT 
CASE NO. 4:20-CV-03056-DMR 
 
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HERRERA KENNEDY LLP 
 
By: /s/ Shawn Kennedy 
  
 
Shawn M. Kennedy 
HERRERA KENNEDY LLP 
Shawn M. Kennedy (SBN 218472) 
skennedy@herrerakennedy.com  
Bret D. Hembd (SBN 272826) 
bhembd@herrerakennedy.com  
4590 MacArthur Blvd., Suite 500 
Newport Beach, CA 92660 
Tel: (949) 936-0900 
Fax: (855) 969-2050 
 
HERRERA KENNEDY LLP 
Nicomedes Sy Herrera (SBN 275332) 
nherrera@herrerakennedy.com 
Laura E. Seidl (SBN 269891) 
lseidl@herrerakennedy.com 
1300 Clay Street, Suite 600 
Oakland, CA 94612 
Tel: (510) 422-4700 
Fax: (855) 969-2050 
 
 
 
BURNS CHAREST LLP 
 
By:  /s/ Christopher Cormier  
 
 
Christopher J. Cormier 
 
BURNS CHAREST LLP 
Christopher J. Cormier (Pro Hac Vice) 
ccormier@burnscharest.com 
4725 Wisconsin Avenue, NW 
Washington, DC 20016 
Tel: (202) 577-3977 
Fax: (469) 444-5002 
 
BURNS CHAREST LLP 
Warren T. Burns (Pro Hac Vice) 
wburns@burnscharest.com 
900 Jackson Street, Suite 500 
Dallas, TX 75202 
Tel: (469) 904-4550 
Fax: (469) 444-5002 
 
Co-Lead Class Counsel 
 
Case 4:20-cv-03056-DMR   Document 190   Filed 03/01/23   Page 4 of 4

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