Penton v. Centennial Bank et al.
Case No. 4:18-cv-00450-AW-MAF (N.D. Fl.)
On May 25, 2023, the Court approved the settlement. A copy of the Order Granting Ranting Motions for Final Approval of Settlement, Dismissal with Prejudice, and Attorney’s Fees and Expenses is available here.
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF FLORIDA
If you were charged by Centennial Bank, or its affiliates, at any time between October 1, 2013 through December 31, 2019 (or between October 1, 2012 and December 31, 2019 with respect to Alabama properties) and were not fully refunded, for hazard, windstorm, and/or flood insurance policy force-placed on real property located in the United States and its territories, you could get a payment from a class action settlement.
A federal court authorized this notice. This is not a solicitation from a lawyer.
Your legal rights are affected whether you act or don’t act. Read this notice carefully.
- A Settlement has been proposed to resolve litigation against Defendant Centennial Bank (“Centennial” or “Defendant”) brought by a putative class of individuals who were charged by Centennial, or its affiliates, and not fully refunded, for hazard, windstorm, and/or flood insurance policy force-placed (“FPI”) on real property located in the United States and its territories.
- The lawsuit Penton v. Centennial Bank et al, Case No. 4:18-cv-00450-AW-MAF (N.D. Fl.) asserts claims on behalf of a class of individuals related charges for force-placed insurance on real property located in the United States and its territories. These claims include breach of contract, breach of covenant of good faith and fair dealing, and unjust enrichment. Centennial denies these allegations, any wrongdoing, and that it is liable in any amount to the affected individuals.
- Under the Settlement, Centennial has agreed to pay up to $730,000 in Settlement Class Relief into a fund which will be used to pay who all Settlement Class Members who submit timely, valid, and verified Claim Forms. In addition to this amount, Centennial has agreed to pay Court-approved reasonable Plaintiffs’ Attorneys’ Fees and Expenses, and the Settlement Administrator’s costs and expenses.
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
|SUBMIT A CLAIM FORM BY APRIL 3, 2023||If eligible, you will receive a cash payment. This is the only way to get compensation from the Settlement.|
|EXCLUDE YOURSELF BY APRIL 3, 2023||If you ask to be excluded, you will not receive a cash payment, but you may be able to file your own lawsuit against Centennial for the same claims. This is the only option that leaves you the right to file your own lawsuit against Centennial and/or the Released Persons (defined in the Settlement Agreement) for the claims that are being resolved by the Settlement. In order to be effective, a request to be excluded from the Settlement must include all information required by the Settlement.|
|OBJECT BY APRIL 3, 2023||You can remain in the Settlement Class and file an objection telling the Court why you do not like the Settlement. If your objections are overruled, you will be bound by the Settlement.|
|DO NOTHING||If you do nothing, you will not receive any cash payment. If you do nothing, you will also forfeit your right to sue or bring any claim against Centennial and/or the Released Persons related to the charges for force-placed insurance.|
- These rights and options—and the deadlines to exercise them—are explained in this notice.
- The Court in charge of this case still has to decide whether to approve the Settlement. Payments will be made if the Court approves the Settlement and after any appeals are resolved. Please be patient.