If You Are or Were a Deeded Owner of the Point at Poipu Resort or a Member of the Diamond Resorts Hawaii Collection Members Association and Received A Water Intrusion Assessment, Your Rights May Be Affected By The Diamond Resorts Water Intrusion Assessment Class Action Settlement.
A class action settlement has been reached in a class action lawsuit against Diamond Resorts Parent, LLC, Diamond Resorts Holdings, LLC, Resort Management International, Inc. and various individuals (collectively, “Defendants”) in the United States District Court for the District of Hawaii (styled Bruce Benedict v. Diamond Resorts Parent LLC et al, Case No. 12-00183), alleging, among other things, that Defendants breached their fiduciary duties and violated applicable state consumer protection laws by approving and charging to Deeded Owners of the Poipu Point Resort and Diamond Resorts Hawaii Collection Members Association (“DRHCMA”) members a Water Intrusion Assessment in the amount of $65,822,529, according to the Diamond Resorts Water Intrusion Assessment Class Action Settlement Notice.
Who Is Included As A Settlement Class Member In The Diamond Resorts Water Intrusion Assessment Class Action Settlement:
The Diamond Resorts Water Intrusion Assessment Settlement Class reportedly includes all persons and entities who are current or former Deeded Owners of Poipu Point and who received a Water Intrusion Assessment, and all persons and entities who are current or former DHRCMA members who received a Water Intrusion Assessment.
What Settlement Benefits Does The Diamond Resorts Water Intrusion Assessment Class Action Lawsuit Settlement Provide:
The Diamond Resorts Water Intrusion Assessment class action settlement will, if approved, reduce future billings to Deeded Owners and DRHCMA members for the Water Intrusion Assessment, on a pro rata basis, by $4.9 million dollars. Under the settlement, billed portions of the Assessment will also be recalculated and the maximum amount required to be paid for 2013, 2014, 2015 or 2016 reportedly will not exceed 17.5% of the total charged under the assessment to Deeded Owners and DRHCMA members. If amounts collected under Assessment for construction or escalation contingencies are unneeded, Deeded Owners and DRHCMA members may also reportedly be entitled to a refund or credit of that overpayment.
How To Obtain Additional Information About The Diamond Resorts Water Intrusion Assessment Settlement:
For more information about the Diamond Resorts Water Intrusion Assessment class action settlement, visit the Diamond Resorts Water Intrusion Assessment settlement website at www.waterintrusionsettlement.com, send an email to the settlement administrator at www.waterintrusionsettlement.com/email, or call 1 (888) 866-5172.
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