This is a class action lawsuit filed on behalf of landowners that have property along approximately 2,500 miles of active railroad.
A company named Thoroughbred Technology and Telecommunications, Inc. has installed or plans to install fiber optic cable along these railroad corridors.
What is a class action and who is in the "Class"?
A class action is a lawsuit in which the claims and rights of many people are decided in a single court proceeding. Representative plaintiffs are named in the lawsuit to assert the claims of the entire class. The Class is made up of persons owning property underlying or adjoining the Settlement Railroad Corridors.
The Settlement Class does not include:
If a person's property is separated from a Settlement Corridor by only a road, street, highway, interstate or railroad right-of-way, that person is still a Class Member.
How many Class Members are there?
There are approximately 60,000 Class Members.
Can anyone be a part of this suit?
No, only persons owning Real Estate underlying or adjoining the Settlement Corridors as of the Record Date set by the Court, which is June 5, 2001, can be a part of this lawsuit.
Do I have to pay attorney fees or administrative costs?
No. Under the Settlement Agreement, and subject to final court approval, Thoroughbred Technology and Telecommunications is responsible for paying Class Counsel fees.
In addition, Thoroughbred Technology and Telecommunications has the obligation to pay all of the costs of administering the Settlement.
How much money will I receive?
At this time, we are not able to determine the exact dollar amount you will receive. Your benefits under the Settlement will depend on the side of the Settlement corridor on which Fiber Optic Cable is actually installed. Some Class Members will be designated "Cable-Side Class Members" and some will be designated "Non-Cable-Side Class Members."
All Class Members who properly register will receive membership interests in Class Corridor, LLC, a company created by Class Counsel to receive, hold, and manage non-cash compensation that the Settlement Class and Class Counsel may receive if the Settlement is approved. Cash Compensation may later be paid to Class Members.
Cable-Side Class Members will receive cash compensation and percentage-of-revenue payments based on the linear feet of the Fiber Optic Cable that is installed next to land that you own along the railroad corridor. The total benefit, including the cash compensation and the percentage-of-revenue payments, will range from $6,000 to $31,875 per mile.
Because the Fiber Optic cable from place to place moves from one side of the Settlement Corridors to the other, a Class Member may be a Cable-Side Class Member for only part of his or her land adjacent to the Settlement Corridor.
This is the side of the Settlement Corridor on which the Fiber Optic Cable has been or will be installed. At any given point on a Settlement Corridor, there can be only one Cable Side.
Where are the Settlement Corridors?
Atlanta, GA – Jacksonville, FL Chattanooga, TN – Cincinnati, OH |
362 miles 170 miles 190 miles 299 miles 263 miles 57 miles 220 miles 719 miles 169 miles 73 miles |
What do I have to do to receive my share of the Settlement?
If you received a personally addressed copy of the Notice and did not opt-out, you will be considered a member of the Settlement Class and need do nothing further at this time.
After construction on a Settlement Corridor is complete and cable-side designations have been made, you will receive a benefits notice informing you of the documentation that you must provide to receive the benefits. You must provide this information within the time period specified in the benefits notice to be eligible for benefit payments.
All Bar Dates have expired, and the Settlement Center is no longer accepting any Form submissions.
When will I receive my benefits?
On September 13, 2004 the Settlement Center issued Initial Cash Compensation to cable-side class members who submitted a timely and complete Claim Form. On September 15, 2006, the Settlement Center issued Percentage of Revenues payments to Eligible Class Members who own cable-side property that adjoins a corridor for which Thoroughbred Technology and Telecommunications, LLC received payment for the sale or leasing of more than three fiber conduits.
What is the Percentage of Revenue Payment?
Percentage of Revenue payments were issued to Eligible Class Members who own cable-side property that adjoins a corridor for which Thoroughbred Technology and Telecommunications, LLC received payment for the sale or leasing of more than three fiber conduits.
Will I have to pay taxes on the money I receive?
Yes, you will be taxed on any cash compensation and the fair market value of any asset compensation that you receive under the Settlement. You will be provided with the information necessary to report such payments on your tax return. Should you have specific tax questions, you should consult your Tax Advisor. We can not advise you about the tax consequences of receiving Settlement benefits in your particular circumstances.
The law firm of Fried, Frank, Harris, Shriver & Jacobson was retained by Class Counsel to provide advice on the tax consequences to Class Members as a result of the receipt of interests in Class Corridor, LLC. The analysis may be viewed on the Documents page of the Class Corridor, LLC website at www.ClassCorridorLLC.com.
What is the "Class Corridor LLC" and how does it affect me?
Class Corridor, LLC is a Delaware Limited Liability Company. It was organized by Class Counsel for the benefit of all Class Members to permit them to retain control of non-cash compensation that they may receive from Thoroughbred Technology and Telecommunications, Inc. if the Settlement is approved. (The non-cash compensation consists of telecommunications assets.) As owners of membership interests, Class Members would be entitled to share in any revenues that Class Corridor, LLC may earn from the telecommunications assets. Your Benefits Notice will inform you of the number of membership interests you will be entitled to receive when the interests are issued.
While T-Cubed will transfer telecommunication assets to Class Corridor, LLC under the terms of the Settlement, T-Cubed will not manage Class Corridor, LLC. It will be independently managed and outside T-Cubed’s control. T-Cubed has no role in, or responsibility for, the creation, management or operation of Class Corridor, LLC.To obtain additional information on Class Corridor, LLC, please visit the website at www.ClassCorridorLLC.com.
How can I receive a copy of the Settlement Agreement?
You may view and print a copy of the Settlement Agreement by visiting the Documents page.
How will the Settlement affect the use of my property?
The installation of the Fiber Optic Cable will not diminish Class Members' use or enjoyment of their property because the Fiber Optic Cable will run within existing rail corridors or other existing rights-of-way.
What if I do not want to participate in the Settlement?
You may opt-out of the proposed Settlement by sending a written request that includes the following information:
Your opt-out request must be signed and dated. Your request must have complete information in order to be effective.
All Opt-Outs submissions must have been postmarked no later than July 28, 2001 to be considered timely.
What happens if I opt-out of the Class and do not participate in the Settlement?
If you validly and timely requested exclusion from the Class and non-participation in the Settlement:
If you elect to exclude yourself from the Class, neither you nor any of the co-owners will be bound by nor will benefit from the terms of the Settlement. If you remain a Class Member, you will be bound by and will be eligible to benefit from the terms of the Settlement.
What do I do if I no longer own property next to the railroad?
If you sold or transferred the land to someone else prior to June 5, 2001, please notify the buyer of the Settlement and contact the Settlement Center. If you sold or sell the land after June 5, 2001, you are still a Class Member. The person purchasing the land from you is not a Class Member.
How Do I contact Class Counsel?
You may request legal assistance from Class Counsel by calling (886) 653-5344 or emailing questions to TCubedSettlement@ackersonlaw.com.
Because there are approximately 60,000 Class Members, the Court cannot respond to telephone inquiries from Class Members. Please do not call the Court or the Clerk of the Court.