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Residential tenants of Concord Management Ltd., Watervue Partners LLC or River Ridge Apartments Ltd. in Florida between April 3, 2021, and April 3, 2025, who had all or part of their security deposit withheld or whom the companies charged certain fees may be eligible to receive a cash payment from a class action settlement.
Concord Management, Watervue Partners and River Ridge Apartments agreed to pay $1.85 million to settle a class action lawsuit alleging the companies failed to send security deposit notices in the form required by Florida law, as well as related claims under the Florida Residential Landlord Tenant Act and the Florida Consumer Collection Practices Act. The class includes approximately 16,924 tenant accounts.
Who are the class members?
Class members are residential tenants of Concord Management, Watervue Partners or River Ridge Apartments between April 3, 2021, and April 3, 2025, who meet any of the following criteria:
- The companies withheld or managed all or part of their security deposit.
- They received a security deposit disposition notice that was substantially similar or materially identical to the form at issue in the lawsuit regardless of the specific charges listed.
- The companies charged them a liquidated damages lease termination fee. This includes:
- Residents who had claims against their security deposits for liquidated damages after electing liquidated damages as their remedy under Fla. Stat. §83.595(4).
- Residents with claims against security deposits for liquidated damages under Fla. Stat. §83.575.
How much can class members get?
Qualifying class members will receive a cash payment from the net settlement fund. The total settlement fund is $1,850,000, but the settlement administrator will reduce this amount by attorneys’ fees, litigation costs, settlement administration expenses and incentive awards to the class representatives. It will distribute the remaining amount to eligible class members.
In addition to the cash payment, Concord Management, Watervue Partners and River Ridge Apartments will discharge more than $15,985,000 in class members' claimed unpaid lease balances. A permanent injunction prevents the companies from using noncompliant security deposit notices, collecting further amounts from class members or reporting negative credit information to credit bureaus. The companies will also request that credit bureaus delete negative credit information they previously reported for class members.
Each eligible class member will receive a pro rata share of the net settlement fund calculated based on the ratio of the amount of the individual’s security deposit the companies withheld to the total amount of security deposits they withheld from all class members.
If Concord Management, Watervue Partners or River Ridge Apartments returned a class member's entire security deposit, they will not receive a cash payment, but they will benefit from other aspects of the settlement, such as debt discharge and credit reporting relief.
No action needed to receive compensation
Class members do not need to file a claim form to receive their settlement payment. The settlement administrator will automatically mail checks to the last known address for qualifying class members. Those who have moved should update their mailing address to ensure they receive their payment by using the online address update form or by contacting the settlement administrator by mail or email.
Settlement administrator's mailing address: Durrance/Barban Class Action Settlement Administrator, PO Box 23489, Jacksonville, FL 32241
Settlement administrator's email address: info@concordsecuritydepositsettlement.com
Is proof or documentation required to submit a claim?
- Class members using the online address update form must supply the notice ID and PIN they received in their settlement notice.
- Those claiming on behalf of a deceased class member may need to supply documentation if requested by the settlement administrator.
Payout options
Class members will receive a check mailed to the address on file unless they update their address. The settlement administrator will donate funds from checks not cashed within 90 days of issuance to Florida Legal Services Inc.
$1.85 million settlement fund breakdown
The $1,850,000 settlement fund includes:
- Settlement administration costs: Up to $63,639.18
- Attorneys' fees: Up to $1,000,000
- Attorneys' expenses: Up to $15,000
- Service awards to class representatives: $7,500 each ($15,000 total)
- Payments to eligible class members: The remainder of the settlement fund
In addition to the $1,850,000 settlement fund, Concord Management, Watervue Partners or River Ridge Apartments will waive more than $15,985,000 in claimed unpaid lease balances and request that credit bureaus delete negative credit information.
Important dates
- Deadline to opt out: Nov. 20, 2026
- Final approval hearing: Dec. 3, 2026
When is the Concord Management settlement payout date?
The settlement administrator will mail checks to eligible class members after the court resolves any appeals and grants final approval of the settlement.
Why is there a class action settlement?
The lawsuit alleged Concord Management, Watervue Partners and River Ridge Apartments failed to send security deposit notices in the form required by Florida law and violated other provisions of the Florida Residential Landlord Tenant Act and the Florida Consumer Collection Practices Act.
The companies denied any wrongdoing but agreed to settle to avoid the expense and uncertainty of further litigation.
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