At The Goal Line: Rams and PSL Holders Secure Prelimary Settlement Approval
On Thursday, January 24, the Los Angeles Rams and purchasers of personal seat licenses (PSLs) procured preliminary approval of a settlement agreement in the amount of $24 million.
By way of brief history, the St. Louis Rams moved to Los Angeles back in 2015. Following this relocation, several St. Louis Rams’ PSL holders brought suit on behalf of more than 46,000 PSL purchasers who secured their PSLs prior to the team’s departure. These multiple lawsuits were ultimately combined into a singular action; this combined action sought a refund for the nine unused years of the seat license fee in addition to damages.
Pursuant to the tentative settlement, the PSL owners will be notified within three weeks of the settlement via mail, email, media publicity, and an ad run by the Rams in the St. Louis Post-Dispatch for two consecutive weeks. An independent company will appointed by the court and paid for by the Rams will establish a website for the owners to apply for refunds. Owners who submitted for cancellation of their licenses but never received a cancellation notice will retain eligibility for a refund, while those who received official cancellation notices will not.
Judge Limbaugh ultimately scheduled the final approval hearing for June 24, 2019, wherein the court will address whether the settlement should be finally approved, whether and in what amount class counsel shall be awarded their attorneys’ fees, costs, and expenses, and whether and in what amount the class representatives shall be entitled to incentive awards.