Raleigh, North Carolina has agreed to put $26,235,749.27 into a settlement fund for people and companies that paid its water and sewer capital facilities fees from 2016 to mid-2018. Checks of about 105 percent of the fees paid would go out automatically, with no claim form, once a Wake County judge gives final approval. That hearing is set for December 14.
Where the 105 percent comes from
The fund is made of three pieces, Open Class Actions reports: $16,477,509.40 in fees the city collected during the class period, $7,352,975.87 in 6 percent prejudgment interest through September 16, 2024, and $2,405,264 in post-judgment interest through July 15, 2026.
Those three amounts add up to the $26.2 million. After attorneys’ fees of up to one-third and administration costs come off the top, what remains works out to a check of about 105 percent of the fees a payer handed over, if the court approves every requested fee and cost. The figure is an estimate, not a promise…