YES Energy Management $2.8M Settlement (Maryland Residents)

If you are a Maryland resident who paid an Administration Fee on an invoice sent by YES Energy Management, Inc. during the period from October 4, 2018, through March 19, 2024, you may be eligible to receive $48 or more as part of a class action settlement.

YES Energy Management, Inc. has agreed to pay $2,800,000 to settle a class action lawsuit for alleged violations of Maryland law by acting as a collection agency without a license and charging Administration Fees to Maryland tenants. Eligible class members can receive a portion of the $2,800,000 settlement fund.

Can I Claim an Award?

To be eligible for this settlement, you must be a Maryland resident who paid an Administration Fee on an invoice sent by YES Energy Management, Inc. during the period from October 4, 2018, through March 19, 2024. The official settlement website has identified you as a potential class member if you received a notice.

What Can I Get from the Settlement?

Each authorized claimant will receive a pro rata payment from the $2,800,000 settlement fund. For example, if the total amount of Administration Fees charged to all claimants is $1,000,000 and you paid $100 in fees, you would receive 10% of the settlement fund allocated for claimants.

Is Proof Required to Claim the Reward?

Yes, proof is required to claim the reward. Settlement Class Members must provide information regarding the Administration Fees they paid. If YES Energy Management, Inc. has records of the exact amount of fees paid, this information will be pre-populated on the claim form. If not, it will be presumed that the class member paid an Administration Fee for twelve months at a rate of $4 per month.

How to Claim Your Award

To claim your award, you must file a claim either online or by mail. You can file a claim online or download a claim form from the official settlement website, complete it, and mail it to the Settlement Administrator.

How do I Get Paid?

You can choose to receive your payment via a paper check or an electronic payment. Ensure you select your preferred payment method when filing your claim.

$2,800,000 Settlement Fund Breakdown

The settlement amount of $2,800,000 will be used to compensate class members who file valid claims. After deducting attorneys' fees and costs, the remaining amount will be distributed to eligible claimants on a pro rata basis.

Class Counsel will request a payment of one-third of the common fund for attorneys' fees, plus costs. The class representative will receive an incentive payment of up to $15,000, subject to court approval.

Important Dates

• Deadline to File a Claim: November 13, 2024
• Deadline to Exclude Yourself from the Settlement: July 16, 2024
• Final Approval/Fairness Hearing: September 11, 2024, 9:30 a.m.

Why is There a Class Action Settlement?

The lawsuit claims that YES Energy Management, Inc. and Yardi Systems, Inc. acted as collection agencies in Maryland without a legally required Maryland collection agency license and violated Maryland law by charging fees in connection with that unlicensed activity. YES and Yardi deny these claims and believe they did nothing wrong.

Both sides agreed to a settlement to avoid the costs and risks of continuing the lawsuit, including a trial and appeals. The settlement provides compensation to class members who file valid claims and releases YES and Yardi from liability.

The next steps include the court's final approval of the settlement and the distribution of payments to eligible class members. Please ensure you file your claim by the deadline to receive your portion of the settlement fund.