In 2024, Verizon agreed to a $100 million class action settlement to resolve allegations of deceptive advertising practices. This article provides a comprehensive guide to the Verizon settlement payout, including eligibility criteria, payout structure, key deadlines, and steps to claim your share.
Overview of the Verizon Settlement
Verizon faced a class action lawsuit for allegedly misleading customers by not disclosing mandatory administrative fees in its advertised plan prices. These fees, ranging from 0.40to3.30 per month, were added to customers’ bills, leading to unexpected charges. To resolve the lawsuit, Verizon agreed to a $100 million settlement without admitting wrongdoing.
Eligibility Criteria
To qualify for the settlement payout, you must meet the following criteria:
- Type of Plan: You must have held a Verizon postpaid wireless or data plan (prepaid or business accounts are excluded).
- Timeframe: You were charged administrative or telco recovery fees between January 1, 2016, and November 8, 2023.
If you meet these conditions, you were eligible to file a claim before the deadline.
Payout Structure
The settlement offers compensation based on the following structure:
- Base Payment: $15 flat rate per valid claim.
- Monthly Bonus: 1foreachmonthadministrativefeeswerecharged(upto85).
- Maximum Payout: $100 per claimant.
However, payouts may be adjusted on a pro-rata basis if the total claims exceed the $100 million settlement fund.
Claim Deadline (Closed)
The deadline to file a claim was April 15, 2024. Late submissions are no longer accepted, and eligibility alone does not guarantee payment. If you missed the deadline, you cannot claim your share of the settlement.
Payment Distribution
- Expected Start Date: Payments are scheduled to begin in January 2025.
- Payment Methods: Compensation will be distributed via electronic transfer (PayPal, Venmo, Zelle) or mailed checks, depending on the preference indicated during the claim process.
Unclaimed Funds
If payments are uncashed or undeliverable, they will be treated as unclaimed property under state laws. Affected individuals can search for unclaimed funds through state databases like MissingMoney.com.
Reason for the Settlement
The lawsuit alleged that Verizon violated consumer protection laws by failing to disclose administrative fees in its advertised prices. While Verizon denied any wrongdoing, the company chose to settle to avoid prolonged litigation and potential reputational damage.
Key Dates
- Final Approval Hearing: The settlement received final approval on September 20, 2024, after resolving any appeals.
- Payment Timeline: Administrative processing began after final approval, with payouts starting in January 2025.
Documentation Required
During the claim process, eligible individuals were required to submit:
- Proof of administrative fees (e.g., billing statements).
- Account details to verify their eligibility.
Implications for Consumers
The Verizon settlement highlights the importance of:
- Transparency: Companies must clearly disclose all fees in their advertised prices.
- Consumer Vigilance: Customers should regularly monitor their bills and participate in class action lawsuits promptly to claim their share.
Next Steps for Missed Claims
If you missed the claim deadline, you can still monitor state unclaimed property databases for potential funds. For updates and additional information, visit the official settlement website.
