Lawsuit could force Verizon to pay up for "illegal ETFs"

Simmer down, Verizon subscribers. A trial date has yet to be set, but apparently, an arbitrator has "certified a huge class action against Verizon Wireless" that could cost it nearly $1 billion in refunds of early termination fees. Reportedly, this case marks the "largest class ever certified in arbitration, with approximately 70 million members of the subscriber class." Essentially, the lawsuit is attempting to extract refunds for hordes of VZW customers that were charged with "illegal ETFs," and while a company spokesperson unsurprisingly declined comment, we're hearing that the trial could get going as early as mid-2008. That's two, who's next?

[Image courtesy of Spusa]