On March 9, 2015, the Court granted preliminary approval of a class action settlement involving Westminster Mint. The lawsuit captioned as Thomas J. Styczinski v. Westminster Mint, Inc., et al, Civil Action No. 14-cv-619 SRN/HB, which was filed in the United States District Court for the District of Minnesota on behalf of all persons who are residents of the United States who purchased a “Silver Round – American Silver Eagle Design” and/or a “Silver Round – Timber Wolf/Maple Leaf Design” (collectively “Round” or “Rounds”) without the word “COPY” inscribed thereon, that was manufactured, imported, or sold by Defendants Westminster Mint, Inc. and Bullion International, Inc. d/b/a Highland Mint and International Fulfillment House (“Defendants”) between March 7, 2008 and the present. The complaint alleges that Defendants improperly manufactured, imported, and/or sold the Rounds without the word “COPY” inscribed on them, as required by law. Defendants deny any wrongdoing and deny the claims and allegations asserted by Plaintiff. The Court has not ruled on the merits of the Plaintiff’s or the Class’ claims and has made no determination of violations or liability against Defendants. The parties nevertheless have agreed to settle the lawsuit.
Defendants have agreed, subject to court approval, that each Class member who submits a timely Claim, with the appropriate proof, will have the right to return each Round they purchased without the word “COPY” inscribed thereon, that was manufactured, imported, or sold by Defendants during the Class Period and to receive, at the Class member’s option, either: (1) a new Round, which is stamped with the word “COPY” thereon; or (2) a monetary refund of the Round that they purchased at a price equal to the closing “spot” price of the silver contained in the Class Member’s Round as of the date that it is received by the third party administrator. All shipping and handling costs associated with exchanging the Rounds shall be paid by the Defendants. The proposed settlement is intended to settle all claims against Defendants that arise in any way from the Defendants’ conduct in the transactions that are the subject of this lawsuit. By participating in this Settlement, each Class member is releasing all such claims.
Preliminary Approval Order: Order Granting Preliminary Approval
Class Notice: Final Class Action Legal Notice
Claim Form: Final Class Action Claim Form
Settlement Agreement: Settlement Agreement Fully Executed with Exhibits