Original Message:
Re: Diamond Resorts International (DRI) "THE CLUB" Points Program & Converting your Week to Points (by Irene P.):
I understand what your wife, an attorney, said about class actions being a waste of time. I said the same thing myself. However, class action law suits are sometimes warranted. This class action article about Diamond was posted November 4, 2016. The problem is class actions take time. An appeal can easily take a year if DRI loses the lawsuit. Most owners don't have time to wait.
https://topclassactions.com/lawsuit-settlements/lawsuit-news/348667-diamond-resorts-class-action-high-pressure-timeshare-sales-deceptive/
I agree that owners can find good value with points. My complaint is that Diamond is the only major timeshare company to have restricted the use of points purchased on the secondary market to the extent there is no secondary market for Diamond points while there is a secondary market for all Diamond's major competitors. Westgate has the second worst secondary market. A life crisis can happen at any time. This is an interview with a man and DRI owner in ill health denied a surrender for eight years until the television reporter contacted DRI.
http://www.clickorlando.com/news/investigators/timeshare-woes-for-one-man-who-tried-to-cancel-after-an-illness
Also, this is not just any company going private. I had brokerage clients harmed by Drexel Burnham Lambert and the Michael Milken junk bond scandal. DBL filed bankrupt and formed Apollo Global Management. Junk bonds have some value, but a Diamond contract becomes worthless the moment the contract is signed, should an owner need to sell. Distressed families can at least get back sometimes 10 to 15% of their investment in timeshare, but Diamond owners are at the mercy of Diamond and their willingness to accept a surrender. As true with Mr. Marble in the above interview, surrenders are not guaranteed. The February 25 post from Susan as mentioned in a prior post is helpful.