Unless you exclude yourself, you will be part of the Settlement Class, and you will be bound by the release of claims in the settlement. This means that if the Settlement is approved, you cannot sue, continue to sue, or be part of any lawsuit against Wells Fargo or the other Released Parties asserting a “Released Claim,” as defined below. It also means that the Court’s Order approving the settlement and the judgment in this case will apply to you and legally bind you.
The “Released Claims” that you will not be able to assert against Wells Fargo or the Released Parties if you remain a part of the Settlement Class are as follows: “Released Claims” means any and all claims, demands, damages, costs, attorneys’ fees, disputes, liabilities, actions, rights, suits or causes of action, losses or remedies of any kind or nature whatsoever, whether based on any federal law, state law, common law, territorial law, foreign law, contract, rule, regulation, any regulatory promulgation (including, but not limited to, any opinion or declaratory ruling), or any legal or equitable theory, right of action or otherwise, whether known or unknown, suspected or unsuspected, asserted or unasserted, foreseen or unforeseen, matured or unmatured, accrued or unaccrued, actual or contingent, liquidated or unliquidated, punitive or compensatory, as of the date of the Final Approval Order, that arise out of, or relate to, or are based upon or in any manner related or connected with, the Released Parties’ implementation or use of, or disclosures pertaining to, any Buydown Agreement entered into in connection with a residential real estate transaction during the Class Period including, but not limited, to: (i) claims asserting breach of contract; (ii) claims asserting a quasi-contract theory (i.e., promissory estoppel, unjust enrichment, or quantum meruit); (iii) claims asserted under the federal Truth In Lending Act (“TILA”); (iv) claims asserted under New York General Business Law § 349; (v) claims asserted under any state or federal consumer protection law including, but not limited to any unfair, abusive or deceptive practices act or regulation, whether statutory or recognized at common law; (vi) any and all claims that were or that could have been asserted in the Initial Complaint, the First Amended Complaint, the Second Amended Complaint, or in this Litigation; (vii) claims asserting that excess interest was assessed, charged or collected, or that the loan was inappropriately amortized in connection with the application, implementation or use of any Temporary Buydown Agreement; and/or (viii) claims that were or could have been asserted as a member/representative of a putative class or sub-class in the Litigation or in any other proceeding or suit purporting to assert claims in any way related to the foregoing. This Agreement does not imply that any such claims exist or are valid.
“Released Parties” means Wells Fargo and each of its respective past, present and future parents, subsidiaries, affiliated companies and corporations, and each of their respective past, present, and future directors, officers, managers, employees, agents, general partners, limited partners, principals, insurers, reinsurers, shareholders, attorneys, advisors, representatives, predecessors, successors, divisions, assigns, or related entities, and each of their respective executors, successors, and legal representatives.