St. Louis Rams PSLs
Licensor hereby expressly reserves the following rights:
The right to terminate this Agreement and refund
part or all of the Licensee’s deposit …”
-- Rams’ purported PSL Agreement (emphasis added)
Rams PSL Owners
A federal judge has given preliminary approval of the settlement reached on behalf of Rams PSL owners against the L.A. Rams. The settlement announced in the fall of 2018 Rams would pay up to $24 million to PSL owners for the unused portion of their PSLs after the team moved to L.A.
It is imperative that all claimants file a claim. If only $15 million of the $24 million has a valid claim filing, then L.A. Rams owner Stan Kroenke will be able to pocket the unclaimed $9 million.
Rick Cornfeld of the Law Office of Richard S. Cornfeld, LLC, a leader of the legal team that achieved the settlement, says the preliminary approval of the settlement establishes the process for PSL owners to file a claim to be reimbursed 30% of the face value of their PSL. It includes:
- PSL owners will have to make a claim to get their portion of the settlement.
- The court has appointed an independent company (paid by the Rams) to set up a website for PSL owners to make their claims for refunds. The website is expected to go active on February 16 and can be accessed at RamsPSLClassActionSettlement.com.
- PSL owners will be notified by email and postcard, which will go out on February 18. They will be provided a pin and password to enable the PSL owner to access the claim form on the website. The Rams have an estimated 85% of PSL owner emails and virtually every mailing address. The Rams will also post a notification of the settlement for two consecutive weeks in an ad in the St. Louis Post-Dispatch beginning on February 17.
- If someone doesn’t receive an email or postcard, they can request a pin and password be emailed to them from the Claim website. They can then use this to access a claim form.
Fans who dropped their season tickets, but never received a Rams PSL cancellation notice, are still eligible for the settlement. Those who received a cancellation notice are not.
Rick has set up two email addresses for PSL owners who may have questions about the settlement:
PSL owners can also call the Law Office of Richard S. Cornfeld, LLC, at 314-241-5799.
To read the preliminary approval of the settlement, click on this link.
Banner image provided by user Kelly on Flickr.com.