C. T. 08/04/2008 7:48:00 AM
I purchased 4XME in 2004. I did not understand how to use
the sofeware, but they only gave you a few days to try it out, or return it. A few days was impossible to learn this. I went to the one day seminor in NJ. The instructor was terrible. I went home even more confused. I started studing the forex market, and took a course from a internet site. I discovered that the forex
market is a college curriculum, nothing that you can learn in 3 to 6 weeks as GT promised. I only lost money using the software. Enclosed is info. on a 5/2008 Brummit Class Action V. Dynatech. This suit was ONLY for 4XME purchasers from 2/1997 to 6/2003. This was a Texas provision contract. I was excluded from this unforunately.
This post contains all the information I can find that is publically
available regarding the GT lawsuit. Please read carefully, and
plantiffs' counsel contact information is at the end of this post.
I know some GT customers received the letter regarding this lawsuit
and others did not. I assume this is because there are at least 5
different sales contracts (we know this from the data feed upgrade
fun back in January) and perhaps not all allegedly violate the Texas
choice of law provision. Only people that purchased 4X Made Easy
Software and executed an enrollment form containing a Texas choice-of-
law provision received this letter. Of course, it is entirely
possible that some people who executed an applicable contract did not
receive notice. GlobalTech sent a list of applicable customers to
the law firm, and that law firm sent out the notices.
The below is taken directly and verbatim from the information
provided by the law firm:
The Plaintiffs claim, among other things, that the GlobalTec
Defendants breached certain warranties related to the 4X Made Easy
software. The GlobalTec Defendants deny that any such breaches
occurred, deny all liability, and deny that they have done anything
wrong.
The action was brought on behalf of a class of individuals consisting
of all 4x Made Easy subscribers or purchasers who executed the
Globaltec Defendants' enrollment form containing a Texas choice-of-
law provision ("Class Member"). In a class action, one or more
people, called Class Representatives, sue on behalf of people who
have similar claims. The people who belong to the Class are called
Class Members. One court resolves the issues for all Class Members,
except for those who exclude themselves from the Class.
The Court has not yet ruled on any of the claims or defenses asserted
in the action. The Settlement avoids the costs and risks of
continuing litigation, provides for a benefit to the Class Members,
and releases the GlobalTec Defendants from liability for all claims
that Class Members have that fall within the scope of the Release.
The attorneys for the Class and the Class Representatives believe the
Settlement is fair, reasonable, adequate, and in the best interest of
the Class.
The Class consists of all 4X Made Easy subscribers or purchasers who
executed the Globaltec Defendants' enrollment form containing a Texas
choice-of-law provision.
Provided that the Court approves the Settlement, each qualifying
Class Member who timely submits a Claim Form approved by the
Globaltec Defendants shall be provided a Certificate redeemable
solely by the recipient Class Member for up to $4,500.00 worth of
products and services offered by GlobalTec Solutions, LLP, based on
the retail prices of said products and services at the time of any
such redemption. The Certificate shall be redeemable for a period of
one (1) year solely by the recipient Class Member for any and all
products and services offered by GlobalTec Solutions, LLP, to the
public at the time of redemption. There shall be no cost associated
with redeeming the Certificate for up to $4,500.00 worth of products
and services. If, however, the total price of the products and
services sought to be redeemed by the use of a Certificate exceeds
$4,500, then the Class Member redeeming the Certificate shall be
required to pay GlobalTec Solutions, LLP, for the entire amount by
which said total exceeds the value of the Certificate.
To receive your portion of the Settlement as detailed in the Notice
of Proposed Settlement of Class Action, you must be a qualifying
class member and timely submit a properly completed claim form either
online or via mail. Online claims must be submitted on or before
July 21, 2008. Claims filed by mail must be postmarked on or before
July 21, 2008.
If you stay in the Class, you will give up the right to sue, continue
to sue, or be part of any other lawsuit against the Globaltec
Defendants. It also means that all of the Court's orders will apply
to you and legally bind you. Unless you exclude yourself, you give
up the right to sue the Globaltec Defendants for all claims that fall
within the scope of the Releases.
You have the right to exclude yourself from the action and the
Settlement. If you wish to be excluded, you must submit a letter post-
marked no later than May 26, 2008, with your name, address, and
telephone number, stating "I wish to be excluded from the Brummit v.
Dynetech Settlement." It must be personally signed by you in order to
be valid. Your letter must be sent to:
Brummit Class Action Claims Manager
C/O Class Action Administration, Inc.
PO Box 6877
Broomfield, CO 80021-0015
You cannot exclude yourself by telephone or e-mail.
You may object to the Settlement, if you have not excluded yourself
from the Class. To object you or your own lawyer must file a
written objection with the Court, and send copies to each of the
attorneys below by June 5, 2008:
The Court:
Clerk of the Court
Denver County District Court
1437 Bannock Street
Denver, Colorado 80202
Plaintiffs' Counsel:
Steven Feder
Straus & Boies, LLP
Equitable Building
730 17th Street, Suite 550
Denver, Colorado 80202
Patrick D. Vellone
Matthew M. Wolf
Allen & Vellone, P.C.
1600 Stout Street, Suite 1100
Denver, Colorado 80202
The GlobalTec Defendants' Counsel:
Stanley L. Garnett
Christopher C. Zenisek
Brownsetin Hyatt Farber Schreck LLP
410 Seventeenth Street, Suite 2200
Denver, Colorado 80202-4437
The Court will hold a Final Hearing on June 20, 2008 at 8:30 a.m.,
Mountain Standard Time, in Courtroom 18 of the District Court, City
and County of Denver Colorado, 1437 Bannock Street, Denver, Colorado
80202.
The Court has approved the following lawyers and law firms to
represent the class members:
Steven Feder
Straus & Boies, LLP
Equitable Building
730 17th Street, Suite 550
Denver, Colorado 80202
Patrick D. Vellone
Matthew M. Wolf
Allen & Vellone, P.C.
1600 Stout Street, Suite 1100
Denver, Colorado 80202
These lawyers are called Class Counsel. If you are and remain a
member of the class, you will not be charged for the services of
these lawyers in this case. If you want to be represented by your own
lawyer, you may hire one at your own expense.
Class Counsel will ask the Court to approve payment of $1,500,000.00
to them for attorneys' fees, payable by the GlobalTec Defendants in
thirty (30) monthly installments of $50,000.00. Class Counsel may be
awarded less than the amounts they request.
You may contact the claims administrator at:
Brummit Class Action Claims Manager
C/O Class Action Administration, Inc.
PO Box 6877
Broomfield, CO 80021-0015
Email: info@brummitlawsuit.com
