4

Verizon ETF Settlement upheld

Verizon's ETF lawsuit has apparently come to a close with a California Appeals Court upholding a $21 million refund that will go to about 175,000 customers. The lawsuit came about when customers challenged Verizon's Early Termination Fees. The plaintiffs claimed that Verizon violated California consumer protection laws and similar State and Federal laws by imposing flat ETF's.

The class action settlement, originally agreed upon in 2008, was appealed twice by Verizon with the funds being held in escrow until all appeals of the case have been exhausted. Verizon could appeal to the California Supreme Court but a spokesperson for Verizon stated this ruling ended all ETF related litigation.

Scott Bursor, lead attorney for the plaintiffs, stated "Yesterday's ruling by the Court of Appeal confirms that this is a terrific settlement for Verizon Wireless customers, and now more than 175,000 of those customers will get a substantial refund."

There are no reports on how much the attorney fees in this case will be (likely millions) but the settlement breaks down to about $88 per plaintiff. They were challenging a $175 fee, which has increased since the litigation but is now prorated to comply with applicable laws. 

Verizon claims the increase and change in ETF policy is completely unrelated to the litigation.  No word if the Microsoft KIN was ever a part of the settlement agreement.

[read: nasdaq.com]

0
loading...
0
loading...
0
loading...
0
loading...

Comments

There are 4 comments. Sign in to comment

says:

Drinks on me! Sent in my form in October 2008. I'm gonna get pizzaid!

says:

If I were one of the complainants, and there was no alternative, I will not lower the cash. After all, $ 87.50 is $ 87.50. But here's a crazy idea: How about a lottery where you can leave your pool party the opportunity to get more for your problem? Tell everyone gives their money to a tenth shot at $ 875, or 1-5 for $ 437.50? Of course, not everyone is a player.

As this information is educational so this site has been added to my RSS feed for later browsing. To know more about
marathon training tips
[ marathon training schedule for beginners ]

says:

Verizon will never ever see my business again.
Fn A holes!