Verizon Settles Class Action Lawsuit and Establishes $100 Million Fund for Customers

News: Verizon, the tech behemoth, has decided to resolve a class action lawsuit by establishing a $100 million fund. This fund aims to reimburse both present and former Verizon mobile phone users who incurred particular administrative charges during specified periods. The agreement, awaiting judicial consent, incorporates measures to guarantee equitable restitution for impacted customers.

Claiming Compensation

Qualified customers have the opportunity to obtain account credits capped at $100. To avail of this compensation, customers need to submit their claims by the cutoff date of April 15, 2024. The $100 million allocation will finance these account credits, along with covering expenses related to distributing settlement checks, notifications, and electronic transfers.

Provisions for Plaintiffs and Attorneys

Beyond just reimbursing customers, the settlement incorporates service awards for the plaintiffs and addresses the legal fees and expenses of the attorneys representing the group. This provision ensures that the legal professionals advocating on behalf of the customers receive appropriate compensation for their efforts.

Filing a Claim

Verizon has identified qualifying customers and dispatched notifications regarding the settlement. Those customers who have received such notifications are acknowledged as members of the Settlement Class and can lodge a claim to obtain funds from the settlement. To initiate a claim, individuals must confirm their eligibility and navigate to the specified website mentioned in the notification to obtain the claim form. It’s essential for customers to furnish precise and current details, potentially including relevant documents to substantiate their claim. The final date to submit a claim stands at April 15, 2024.

Payment Amount

The compensation that qualifying customers might obtain varies based on criteria such as their duration as Verizon subscribers and the count of Settlement Class Members who present valid claims. The highest potential reimbursement stands at $100 per account, whereas the baseline payment is set at $15, supplemented by an extra dollar for each month the administrative fee was levied between January 1, 2016, and November 8, 2023. For customers to qualify for this compensation, they need to lodge a valid claim by the deadline of April 15, 2024.

Eligibility Criteria

Individuals who held Verizon postpaid accounts from January 1, 2016, to November 8, 2023, and were subjected to an administrative fee or both an administrative and Telco Recovery charge qualify to file a settlement claim. Those who have received notifications from Verizon, either through email or traditional mail, are recognized as eligible based on the company’s records. These notifications contain the essential ID and confirmation numbers required for initiating a claim.

Fairness Hearing and Objections

A Fairness Hearing is set for March 22, 2024, during which the New Jersey Superior Court will evaluate the adequacy, fairness, and reasonableness of the settlement. Customers retain the choice to decline the settlement and opt for independent legal action against Verizon; however, they will bear their individual legal costs. Those intending to raise concerns or objections regarding the terms of the settlement must articulate them in written form by February 26, 2024. Such objections will factor into the deliberations during the conclusive court approval session on March 22, 2024.

Verizon’s decision to resolve the class action lawsuit and set up a $100 million fund underscores its dedication to addressing grievances on behalf of impacted customers. Through implementing a fair compensation structure and shouldering the legal expenses of the plaintiffs’ lawyers, Verizon strives to deliver a satisfactory resolution to the issue at hand. Qualifying customers are advised to examine the settlement details carefully and submit a legitimate claim by the stipulated deadline to secure rightful compensation.

FAQs

1. Am I eligible for compensation if I haven’t gotten a notification from Verizon?

No, only those customers who have received notifications via mail or email qualify as members of the Settlement Class and can make a claim.

2. If I decline the settlement offer, what are my options?

If you choose not to accept the settlement, you can decide to initiate your own legal proceedings against Verizon. Nonetheless, you’ll be accountable for your individual legal costs.

3. How can I voice my concerns about the terms of the settlement?

If you disagree with the terms of the settlement, you can formally submit your objections in writing by February 26, 2024. These objections will then be reviewed during the final court approval session.