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Got It


SHERRY BLACKBURN ET AL V. A.C. ISRAEL ENTERPRISES ET AL.


CIVIL NO. 3:22CV146 (DJN) IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN
DISTRICT OF VIRGINIA

Case Home Important Court Documents Key Dates Frequently Asked Questions
Estimated Award Eligibility Update Address


CASE HOME



Click here to download the class notice in Spanish.

 

If You Obtained a Loan from
Golden Valley, Silver Cloud, Majestic Lake or Mountain Summit,
You Could Get a Cash Payment.


A federal court ordered the notice that you received. This is not a solicitation
from a lawyer.


• Read the Notice. It states your rights and provides you with information
regarding the settlement of a proposed nationwide Class Action (“Settlement”)
against individuals and entities involved with the making of online loans in the
name of Golden Valley, Silver Cloud, Majestic Lake, and Mountain Summit. The
settling parties, listed below, are referred to here as “Defendants.”
• The Notice is a summary of information about the Settlement and explains your
legal rights and options because you are a member of the class of borrowers who
will be affected if the Settlement is approved by the Court. The complete terms
of the proposed Settlement are available on the Important Court Documents page
of this website. You may also contact Class Counsel for further details and
advice.
• A lawsuit was brought on behalf of all individuals who obtained a loan from
Golden Valley, Silver Cloud and/or Majestic Lake, regardless of the date of the
loan, and all individuals who obtained a loan from Mountain Summit prior to
February 1, 2021. The lawsuit claimed that Defendants participated in an
enterprise to offer loans through these entities at annual interest rates
greater than what is permitted by state laws. Defendants deny all allegations in
this lawsuit.
• The lawsuit follows an earlier suit relating to the same loans that resulted
in cancellation of the loans at issue and cash payments to some Class Members.
• As part of the proposed Settlement, Defendants have agreed to pay into a
settlement fund, which will be used to make cash payments to some Class Members
who meet specific criteria. Defendants have also agreed not to provide support
to Golden Valley, Silver Cloud, Majestic Lake, or Mountain Summit for at least
three (3) years, or to assist with collection of any loans at issue in this
lawsuit.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT DO NOTHING                  You
will remain a member of the Settlement Class and may be eligible for benefits,
including cash payments. You will give up rights to ever sue Defendants and
other, related parties about the legal claims that are in or could have been
brought in this lawsuit. EXCLUDE
YOURSELF You can opt out of the Settlement and you will not be eligible for any
benefits, including any cash payments. This is the only option that allows you
to keep any rights you have to bring, or to become part of, another lawsuit
involving the claims being settled. There is no guarantee that another lawsuit
would be successful or would lead to a larger or better recovery than this
Settlement. OBJECT TO THE SETTLEMENT     If you do not exclude yourself from the
Settlement, you may write to the Court about why you don’t like the Settlement
or why the Court should not approve it.

 



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