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Case ID: 2571 | Technology | 07/29/2003
On July 21, 2003, the court granted final approval to the parties' $10 million settlement in a class action against Internet service provider America Online, Inc. on behalf of all Californians who got their long distance telephone service through AOL between January 1, 1998, and September 30, 2000. The action alleges that AOL Long Distance advertised flat phone-calling rates per minute without disclosing monthly "National Access Fees" that ranged from 97 cents to $2.98. The action sought compensatory and punitive damages. The deadline for submitting claims depends on whether a class member is a current AOL subscriber.
Under the settlement, AOL has agreed to reimburse California residents who paid those allegedly undisclosed fees to AOL Long Distance. An estimated 500,000 customers are eligible for the award. Current AOL subscribers will be notified online of their eligibility to participate in the settlement. They will get an online voucher that may be redeemed for an amount up to the access fees that the subscriber paid during the first nine months of AOL long distance service. The voucher must be redeemed no later than six months from the date that AOL sends it to the subscriber, and may be used to offset future charges by AOL. Non-AOL subscribers will be required to complete a claims process by mail. Those claims forms must be received by AOL within 30 days after they are mailed by the company. These claimants may either use the credit to re-subscribe to AOL, or they may elect to receive a cash payment equal to the amount that the subscriber paid in National Access Fees during the first nine months of use of AOL long distance. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Technology Cases of Interest Several class actions have been filed against technology company Mobility Electronics, Inc. (Nasdaq: MOBE) and certain of its officers and directors by stockholders who purchased the company's common stock between September 2, 2003, and January 5, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. Several class actions have been filed against semiconductor technology manufacturer OmniVision Technologies, Inc., (NASDAQ:OVTI) and certain of its officers and directors by stockholders who purchased the company's common stock between February 19, 2003, and June 8, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action has been filed against Boston Communications Group, Inc. (Nasdaq: BCGI) and certain of its officers and directors by stockholders who purchased the company's common stock between June 12 and July 16, 2003. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action has been filed in Delaware state chancery court against UnitedGlobalCom (Nasdaq:UCOMA) and certain of its officers and directors by stockholders. The action claims that the defendants violated federal securities laws in its handling of the merger with Liberty Media International, Inc. The stockholder seeks to recover compensatory damages for the loss of value of their stock. Several class actions have been filed against wireless carrier US Unwired, Inc. (OTC BB:UNWR.OB), and certain of its officers and directors by stockholders who purchased the company's common stock between May 23, 2000, and August 13, 2002. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The parties have reached a $1.35 million settlement in an administrative proceeding filed by the SEC against certain former officers and directors of software company First Virtual Communications, Inc., (Nasdaq: FVCXE) on behalf of stockholders who purchased the company's common stock between January 28, 1999, and April 6, 1999. The action claimed that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. Claim forms must be postmarked on or before September 21, 2004, to be considered valid. |
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