Arctic Express has paid $150,000 of the $900,000 it is required to pay in settlement of OOIDA's class-action lawsuit against it, which involved drivers' maintenance escrow funds. Class counsel will be preparing checks to distribute the money to class members during the next several weeks.
OOIDA is in the process of updating addresses for class members whose previous mailings have been returned as undeliverable.
If you have changed your address after terminating a lease with Arctic Express, and did not receive the Notice of Settlement of the class action against Arctic in June 2004, please contact OOIDA's Member Assistance Department at 1-800-444-5791 to update your address.
Class members should keep in mind when they receive their checks that the settlement with Arctic has allowed Arctic to pay in installments during a four-year period.
Attorneys' fees and reimbursement of expenses for the class-action lawsuit are also paid out of each installment. The checks, which will be distributed at this time, will be only a small amount of the total that may be owed to you.
OOIDA has brought a second lawsuit against Comercia Bank to recover the remainder of the $5.5 million judgment entered against Arctic. That lawsuit is proceeding, but no ruling has been entered yet on the bank's responsibility for the maintenance escrow funds.