AT&T Coughs Up $18 Million to Settle ETF Suit
AT&T has reached a settlement for a class action lawsuit filed in New Jersey.
AT&T has settled on a figure of $18 million compensation for customers who had to pay the network's flat-rate ETF between January 1, 1998 and November 4, 2009. While a settlement usually means, "Okay, okay, we're sorry! Just please, don't sue us anymore," AT&T has made it clear that no court has found the company guilty of any wrongdoing regarding its ETFs. The carrier maintains that settling was just cheaper than seeing the lawsuit through to the end and enduring any more litigation fee.
The case was filed in New Jersey but actually covers all customers so if you paid the flat-rate ETF between January '98 and Novemeber '09, then you can expect to get a teeny, tiny slice of that $18 million.
Read the full press release here.
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They shouldn't have done that in the first place. Instead use their money to invest in their "better 3G experience" backbone.
Lawsuits are gay. Despite the growing trends in counter-culture, I meant that in a negative way.
The only one who wins these law suits are, Layers taking 30-60% of the settlement. The most that the customer will see is less than $100.00
Actually settlements often mean exactly what ATT said here. I don't think many companies actually admit wrongdoing as part of their settlement agreement.
Reminds me of the movie The Jerk. Steve Martin invents a device that holds you glasses up on your nose so they don't slide down, makes him a millionaire. Then, every sues him because the little piece you attach to the glasses apparently causes you to go cross-eyed. The greatest part is him writing out thousands of checks, each for $1.09. Which is probably more than these ex-AT&T customers are going to get.
I once got an $7 check from Morgan Stanley, which was apparently a settlement for them losing their customers millions of dollars with cooked books and other bad accounting practices (I don't even recall getting a notice to participate in the class-action lawsuit). Yay justice!
Chump change. Winner ATT... unfortunately.
I think they are being forward looking. I just heard on the news the FTC is looking into ETFs by all carriers. Perhaps they are getting in good before the negativity applied to the whole cellular industry comes down.
ETF was bullshit from the start...