If you paid an Administration Fee on an invoice sent to you by YES Energy Management, Inc. during the period beginning October 4, 2018, and ending March 19, 2024, you could be part of a class action settlement.
Through a proposed class action settlement, YES Energy Management, Inc. (“YES”) has agreed without any admission of wrongdoing to resolve a lawsuit over whether YES acted as a collection agency and charged Administration Fees to Maryland tenants without a collection agency license, allegedly in violation of Maryland law.
The proposed class action settlement avoids costs and risks from continuing the lawsuit, pays money to Settlement Class Members who file Valid Claims, and releases YES and its parent company, Yardi Systems, Inc. (“Yardi”), from liability to Class Members.
Under the proposed settlement, YES will fund a common fund of $2,800,000.00 (the “Common Fund”). This Common Fund will be used to make payments to all Class members who file Valid Claims, after deducting amounts to pay Class Counsel’s expenses and attorneys’ fees. In return, YES will be released from liability to any Class Members.
Court-appointed lawyers for Class Members will ask the Court to approve a payment of 33% of the Common Fund as attorneys’ fees, plus costs, for investigating the facts, litigating the case, and negotiating the Settlement. In addition, YES has agreed to pay the Class representative an incentive payment of up to $15,000 in addition to the Common Fund, subject to Court Approval.
The two sides disagree on whether a class action could have been maintained, whether YES did anything wrong, and how much money was at stake.
If you are a Settlement Class Member, your legal rights are affected whether you did or did not act.
These rights and options—and the deadlines to exercise them—are explained further in the Notice and on the Frequently Asked Questions (FAQs) page of this website.
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.