Meager Verizon settlement payments begin rolling out

Almost literally a year ago we reported Verizon will continue to charge administrative and telecommunications reimbursement fees of $3.30 even after settling a class action lawsuit for $100 million. In fact, this has since increased the commission. What about the money he owes to the villagers? The good news is that these payments appear to be already being made. Bad news? Expect almost nothing.

Class action lawsuits rarely result in a large payout for any of the participants (other than the lawyers), but this particular Verizon settlement states that some users will receive up to $100 each, a minimum of $15 per account, plus $1 for each month, with which they charged. fees. Unfortunately, the reality looks even more meager.

Messages are distributed on social networks (via NBC Chicago) from users who received automatic payouts through Zelle or Venmo, usually in amounts between $5 and $15. So what is the discrepancy between what was promised and what was delivered? Unfortunately, class actions usually involve a lot of legal red tape and fine print, and this settlement was no exception.

The website states that final amounts may be lower depending on how long claimants have been with Verizon and how many customers have filed claims. However, the real culprit behind this finding is pretty obvious. The website states that if the Settlement Fund is not sufficient to cover all valid claims, as well as costs and attorneys’ fees, the total amount divided among claimants may also be less. In other words, most of the costs were eaten up by lawyers, court costs and other fees associated with the lawsuit.

Attorney fees and total expenses totaled approximately $33.3 million, according to court documents. In addition, at least 129 plaintiffs received larger “incentive awards” of $3,500 as part of the settlement.

Have you received your payment? Was it more, less, or what you expected? Write to us in the comments to share your story.