Financial Recovery Strategies keeps up to date on the latest in class action developments. Here is a recap of some of the latest key developments.
$131 million settlement with Visa and Mastercard
Canadian companies may claim hundreds of dollars in credit card deduction fees after settling a multimillion-dollar class action lawsuit with Visa and Mastercard. The Canadian Federation of Independent Business (CFIB) says merchants can now claim discounts on processing fees charged on transactions dating back two decades. The regulation comes as the pandemic has accelerated the transition from cash to digital payments, with more and more consumers shopping online. (Read full article)
Trinity Industries reaches settlement worth $56 million in Missouri guardrail case
(Reuters) – Trinity Industries Inc has reached a class action settlement valued at about $56 million to resolve claims by Missouri counties that it failed to disclose design changes to a guardrail system for roads and highways that made it unsafe and unreasonably dangerous. A state court judge in Missouri on Monday preliminarily approved a settlement that plaintiffs’ lawyers call the first successful resolution of claims by government entities seeking to recoup the costs of replacing Trinity’s ET Plus guardrails. (Read full article)
Salmon giants in $85m ‘price-fixing’ settlement
At least four Norwegian salmon companies, including some of the biggest names in the business, have reached a settlement for US $85m in a class action in the United States over anti-competitive behaviour. The companies, among them Mowi, SalMar, Lerøy and Grieg, continue to insist there is no basis for the US allegations, dating back three years, which they say are “entirely unsubstantiated”. The settlement, equivalent to (£67.6m or NOK 815m) remains subject to the approval of the court in the Southern District of Florida. (Read full article)
Teladoc hit with class-action suit alleging it misled investors
Teladoc is facing a class-action lawsuit alleging the virtual care company knowingly and willfully misled investors regarding its business, operations and future prospects, resulting in “significant losses and damages” for stakeholders. The suit was filed Monday in a New York district court on behalf of parties that purchased Teladoc shares between October and April. It accuses Teladoc, along with CEO Jason Gorevic and CFO Mala Murphy, of downplaying competition in the sector that stifled growth for mental health and chronic care businesses, along with issuing “unrealistic” financial expectations for 2022. (Read full article)
See If You Qualify for a Piece of Noom’s $56 Million Class-Action Settlement
If you subscribed to the popular weight-management app Noom, you may be eligible for part of a $56 million class-action settlement regarding its automatic renewal and its cancellation policies. Plaintiffs in the case accused Noom of violating consumer protection laws by getting customers to sign up for a free trial period without clearly disclosing its auto-renewal terms. Founders Saeju Jeong and Artem Petakov did not acknowledge wrongdoing as part of the settlement, which they agreed to in February. (Read full article)