What are the Settlement benefits?
The Settlement Agreement provides for (1) a cash payment and (2) a 20% discount to members of the class for an event occurring within one year of court approval of the settlement (with the exception of those class members that have already received refunds corresponding to Elements Festival 2021).
a. Payment
All Settlement Class Members who submit a valid, complete, and timely Claim using the Claim Form will receive a proportional share of the Benefit Amount (the remainder of a settlement fund of $119,999.00, after settlement administration costs, attorney’s fees, and a service award of $5,000 to class representatives are deducted).
b. Discount for Future Event Within One Year of Settlement
All Settlement Class Members who submit a valid, complete, and timely Claim using the Claim Form, with the exception of those who have already received a refund corresponding to Elements Festival 2021 prior to this settlement, will receive a 20% discount off any event organized by Defendants within one year of final approval of this settlement.
For the avoidance of doubt, the Released Claims include any and all causes of action, claims, rights, damages, punitive, or statutory damages, penalties, liabilities, expenses and losses, and issues, that any of the Plaintiffs have or could have made against the Defendants or Backbone in the Class Action, under any claims under federal, state, or local law, rule, or regulation, including, but not limited to, claims for negligence, gross negligence, fraud, negligent misrepresentation, breach of contract, breach of implied covenant of good faith and fair dealing, unjust enrichment, and violation of the New York General Business Law Section 349,
et seq.
As of the Effective Date, the Releasing Parties will be deemed to have completely released and forever discharged the Released Parties and Class Counsel from and for any and all liabilities, claims, cross-claims, causes of action, rights, actions, suits, debts, liens, contracts, agreements, damages, costs, attorneys’ fees, losses, expenses, obligations, or demands, of any kind whatsoever, whether known or unknown, existing or potential, or suspected or unsuspected, whether raised by claim, counterclaim, setoff, or otherwise, including any known or unknown claims, which they have or may claim now or in the future to have, relating to the institution, prosecution, or settlement of the Actions.
The Stipulation of Class Action Settlement, available
here contains additional information about Released Claims.