A new class action lawsuit has been launched in Montreal against Full Tilt Poker and people associated to the online poker site on behalf of Canadian poker players with money being held in their Full Tilt Poker Player Accounts since approximately June 30th 2011.
The lawsuit has to be authorized by a Quebec judge before proceeding but could benefit Canadian poker players with their bankrolls frozen following the Federal crackdown by the US Department of Justice and suspension of Full Tilt’s Alderney Gaming License. The class action lawsuit specifically identifies the group of affected persons as “all residents in Canada who have money being held in their Full Tilt Poker Player Accounts since approximately June 30th 2011, or any other group to be determined by the Court”
It is estimated that Full Tilt held approximately $150 million dollars of its players’ money when the crackdown took place which froze many of the company’s bank accounts worldwide and seized use of their .com domain with an FBI message visible to everyone who visited the Full Tilt Poker homepage.
Although American citizens were banned from playing, the site continued operating amidst cashout concerns and players from Canada and abroad continued to play on the site until the online poker site shut down its operations to all players on June 29. It is estimated that Canadian poker players had somewhere between $5 and $10 million of their money on Full Tilt and that about 10% of the company’s business came from Canada.
The class action suit was filed with the Quebec Superior Court on September 8, 2011 by Montreal lawyer Jeff Orenstein of the Consumer Law Group Inc.
Ironically, the class action was launched by a petitioner (Mitchell Schnurbach) who claims to have a balance of anywhere between $1 to $5 dollars in his player account, an insignificant amount, but no doubt there are other players involved with significant balances who intend to benefit from the class action.
Full Tilt have made several announcements claiming to be seeking investors and actively pursuing a gaming license in Kahnawake but there has been no concrete progress that would ensure affected players will receive their money.
On top of the money owed to players, Full Tilt still have an indictment against them in the US with a claim of over $1 Billion.
If you would like more information about this class action, click here.