Update: Netflix PR confirmed that the site is legit.
Note: I'm waiting on a confirmation from Wal-Mart PR that this email is legit.
Tonight several readers (and HackingNetflix) received an email from OnlineDVDClass.com notifying Netflix customers about a proposed settlement offer for the class action lawsuit against Wal-Mart and Netflix. While Wal-Mart is trying to settle the lawsuit, Netflix continues to fight and will go to trial in January.
The proposed settlement will be reviewed by a judge on March 14th, and if approved, $27.5 million will be divided among Netflix subscribers who were paying customers between 5/19/2005 to 9/2/2011. If you want to be included in the settlement you must file a claim before 2/14/2012, and you'll receive a payment in the form of a Wal-Mart gift card.
As usual, the lawyers stand to make the most of this lawsuit: 25% of the settlement fund and $1.7 million in fees.
So, what's the lawsuit about? From the OnlineDVDClass website:
The lawsuit claims that Wal-Mart and Netflix reached an unlawful agreement under which Wal-Mart would withdraw from the online DVD rental market and Netflix would not sell new DVDs. The lawsuit claims that this agreement caused Netflix subscribers to pay higher prices for online DVD rentals. Wal-Mart and Netflix deny: (1) that they entered into such an agreement, (2) that they have done anything wrong, (3) that the Plaintiffs have been harmed in any way, or (4) that the price of online DVD rentals was raised or inflated by any agreement between Wal-Mart and Netflix.
Wal-Mart is not admitting that it did anything wrong, but both sides want to avoid the cost of further litigation. The Court has not decided in favor of the Plaintiffs or Wal-Mart. The Class Representatives and their attorneys think the Settlement is best for everyone who is affected. The Settlement provides the opportunity for benefits to Class Members. Netflix has not agreed to settle and continues to believe that the lawsuit has no basis. Additional money may become available in the future as a result of a trial or future settlement with Netflix. Alternatively, the litigation may be resolved in favor of Netflix and no additional money may become available.
More information is available on the OnlineDVDClass FAQ.
Thanks to Brian, Lorenzo, FearNo1, and everyone else for sending this in.