Verizon loses ETF class action lawsuit, ordered to pay $21 million

Tim Stevens
T. Stevens|07.02.10

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Verizon loses ETF class action lawsuit, ordered to pay $21 million
Congratulations Verizon, you're the latest wireless provider to lose a class-action early termination fee-related lawsuit! It's a dispute that's been circulating in courts since 2008, and while the settlement was agreed upon quickly, there were a few lingering appeals that have taken this long to get cleared up -- and not in VZW's favor. The issue at hand was the company's $175 flat early termination fees, behavior that has proven legally naughty again and again when the same fee is levied regardless of whether you were one month or 20 months into your contract. Each customer named in the suit will receive approximately $87.50 for their troubles, a total of $21 million Verizon will have to pay out. That's a bit more than AT&T got hit with back in January, but a whole heck of a lot less than Sprint's massive $73 million fine.

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