Verizon Class Action Settlement Payment 2024: What’s the Payout Amount and Date?

December 29, 2024 Add Comment
Verizon Class Action Settlement Payment 2024: What's the Payout Amount and Date?
Verizon Class Action Settlement Payment 2024: What's the Payout Amount and Date?

In 2024, Verizon Wireless paid $100 million to resolve a class-action lawsuit. The lawsuit accused the corporation of misleading advertising practices, including failing to disclose some additional expenses, such as administrative charges, to clients. As a result, the plans cost more than stated.

The plaintiffs claimed that by failing to disclose these costs from the start, Verizon created the impression that their plans were less expensive than they actually were. This misled clients into selecting plans that were more expensive than planned.

It was deemed dishonest since the pricing in the advertisements did not reflect the entire amount buyers would spend. The lawsuit most likely involves consumer protection statutes and advertising rules, such as the Federal Trade Commission Act, which prohibits deceptive or misleading advertising.

Verizon Class Action Settlement Details

Verizon Class Action Settlement Payment Dates

Verizon has agreed to distribute a settlement amount of $100 million to qualified customers. This settlement aims to compensate those who were charged the disputed administrative fees. The settlement fund will be distributed as follows:

  • Base Payment: Each valid claim will receive a flat payment of $15.
  • Monthly Service Bonus: In addition to the base payment, eligible customers will receive $1 for each month they were charged the administrative fee, up to a maximum of $85.

The total compensation for each consumer is thus limited to $100. The exact amount collected will be determined by the number of valid claims submitted and the duration for which administrative fees were levied.

Eligibility Criteria

Customers who were Verizon customers with a postpaid phone or data plan between January 1, 2016, and November 8, 2023 are eligible for the settlement. During this time, they should have been charged the contested administrative or telecom recovery expenses.

Verizon Class Action Settlement Payout Dates

Once the settlement has been approved, payments will be made to qualifying claimants via check or electronic transfer.

If settlement checks remain uncashed or are considered undeliverable by the Settlement Administrator, the proceeds will be classed as unclaimed property of the Settlement Class Member. This process will follow the applicable state unclaimed property regulations, with any additional administrative fees removed from the unclaimed funds proportionally.

Following the withdrawal of the remaining appeal on September 20, 2024, the settlement became effective. Consequently, the distribution of settlement payments is anticipated to commence in early January 2025.

In case you missed: How to Make a Claim Under The Settlement?

You can’t make a claim anymore as the deadline to fill out the form has passed. Eligible customers who wish to file a claim could follow these steps:

  1. Visit the official settlement website to confirm eligibility and obtain the claim form.
  2. Obtain the claim form by either downloading it from the website or contacting the settlement administrator.
  3. Provide the required information, such as your name, contact information, and applicable account information.
  4. Include any supporting papers that validate the charges, such as billing statements or receipts.
  5. Before the deadline, send the completed form by mail or online via the settlement website.
  6. Following submission, you will receive confirmation and additional instructions. Stay up to date on the status of the settlement and any other steps that may be required, such as supplying new information or attending hearings as needed.

The deadline for submitting claims has now passed. If you haven’t submitted a claim, you will not receive any payment, even if you were eligible. Without submitting the necessary paperwork, your eligibility alone won’t guarantee any compensation.

If you’re bored waiting for the Verizon Settlement Payment to arrive, you may like to head over to these suggested Reddit Threads and discuss about the experience of the other members.

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