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Update on Lawsuit against RCI

As some know (...a few maybe even care), RCI members filed a class action suit against RCI in April, 2006. Alleged in the complaint was that RCI is directly renting out prime deposits and, in so doing, denying RCI members any "exchange" access to those same prime deposits. As in all complex litigation, progress has been slow in this case (Murillo vs. RCI). The situation may now be changing: On July 8, 2008 a settlement conference was held in U.S. District Court in New Jersey, lasting much of that day. Another settlement conference is scheduled for 1:30 p.m. on July 15, 2008 in Federal Court in Newark, NJ. It's certainly too early to draw any conclusions (and none of us here are actually in the courtroom there). Nonetheless, I find myself wondering why, if RCI truly feels they have done no wrong, they aren't all indignant and requesting a trial date. Instead, there are settlement conferences actively in progress; one has already been conducted and another will be held just 4 days from now. Stand by, folks. Things could finally get very interesting in this matter, even to those who have just "yawned" about it (or ignored it entirely) for two years now...