Verizon settlement money goes out to customers, but some payments fall short [View all]
Source: CBS News
Updated on: January 7, 2025 / 4:32 PM EST
Verizon settlement payments have started hitting customers' bank accounts as part of a $100 million resolution of a class-action lawsuit.
Eligible customers had until April 15 to claim their share of the $100 million class-action settlement alleging customers who purchased postpaid wireless plans were charged administrative fees that the company had not advertised. Those affected were promised payouts of between $15 and $100. On Tuesday, however, customers reported receiving payments that were well below the settlement's minimum of $15.
On social media sites including X, Verizon subscribers groused about measly sums they say the wireless provider had paid them. One customer posted a screenshot showing he'd been sent a prepaid Mastercard worth $2.37 as his Verizon Administrative settlement payment. Other social media users also reported receiving less than $15, and far less than the maximum payout of $100.
Payouts were determined based on the following formula: Each legitimate claimant was entitled to $15 per account, plus an additional $1 for each month they received postpaid wireless or data services from Verizon and were charged an administrative fee. Payout amounts were capped at $100, according to the settlement terms. Verizon did not immediately respond to CBS MoneyWatch's inquiry about why some users' payouts totaled less than $15.
Read more: https://www.cbsnews.com/news/verizon-administrative-settlement/
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