eRentPayment Settlement email

[Joe Semifero]

I received an email regarding the class action lawsuit on eRentPayment. eRentPayment is putting in $200,000 and the eCheck company they used is putting in $250,000. After 27% to lawyers and other legal costs, the proposed payout is about 11% of the amount owed with the remaining $300K+. So, by my math, 89% of the money went elsewhere, meaning someone made about $2 million off this deal. 

So, do you take the 11 cents on the dollar or tell them to pound sand? If enough people opt out, the settlement won't happen. I have no idea what happens in that case.