A class action has been filed against Wells Fargo alleging that its Merchant Services misleads customers and charged excessive fees for its credit- and debit-card-processing services. The complaint alleges that Wells Fargo Merchant Services inflates “pass through” costs, increases agreed-upon fees, and imposes new charges without telling new customers about these costs when they sign up. The complaint also alleges that an improper $500 termination fee is charged if a merchant wants to end the services.
Anthem Inc. has agreed to a negotiated settlement valued at $115 million to end class action litigation over a massive data breach. The settlement funds will be used to provide credit protection and reimbursement for customers and pay attorneys’ fees.
Former shareholders of Rentrak Corp. sued the company and its directors in Oregon state court over a now-completed merger with comScore Inc. The investors had accused Rentrak’s board and two top executives of accepting a low-ball offer from the web traffic analysis firm comScore in order to preserve their own jobs, failing to disclose a better bid to shareholders and caving to pressure from a major shareholder to seal the deal. Rentrak was in the audience measurement business.
Lawyers for automobile purchasers asked a Michigan federal judge to approve a proposed $7.6 million deal to settle claims in multidistrict litigation that an automotive bearings supplier and its Swedish affiliates participated in a price-fixing scheme with manufacturers in the U.S., Japan and Germany. The settlement, if approved, would resolve allegations that SKF USA, Inc. and its Swedish affiliates unlawfully colluded with other manufacturers to fix the prices of automotive devices including ball bearings, tapered roller bearings, roller bearings, mounted bearings, and parts and components for ball and roller bearings.
A proposed class-action suit has been filed in Illinois federal court against online dating service conglomerate, Match Group Inc., accusing the company, through its website OkCupid.com, of fraudulently enticing subscribers to upgrade their profiles to a premium level. The suit alleges the company misleads customers by alluding to potential matches accessible only through the upgraded service, which turned out to be non-active accounts and hence, not legitimate potential matches.
