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Case ID: 4812 | Credit / Debt | 05/24/2006
A judge in California certified a class action lawsuit against Verisign to proceed and to include up to 400,000 class members. The total cost of the settlement may exceed $200 million. The suit was filed last year in California.
"According to our research, Verisign's false advertising has resulted in businesses and consumers paying hundreds of millions of dollars for nothing," states one of the attorneys for the plaintiffs. Verisign is the world's leading provider of security certificates used to encrypt data and personal information on the internet. Verisign sells two versions of its SSL security certificates, Secure Site and Secure Site Pro. The Secure Site certificate is advertised as being capable of encrypting data only at a 40-bit level which is considered "encryptionally weak" in the industry. The Secure Site Pro is advertised as encrypting data at 128-bit, a level defined by the industry as "encryptionally strong." Verisign sells its Secure Site Pro certificates for approximately $500.00 more than the Secure Site certificates. The lawsuit claims that Verisign falsely advertises its security certificates. Since early 2000, the two certificates have provided the same 128-bit encryption for the vast majority of internet users. The case will be the first of many more to come given the burgeoning internet security industry and tremendous growth of online transactions. "Our security and personal privacy are serious matters," stated one of the lawyers working on the case. "People should not be taken advantage of by experts in the field who should know better." Security breaches and theft of personal information have been a concern to the federal government, business and consumer groups. Other similar suits seeking class action status have been filed around the nation. The suit against Verisign is the first of its kind to be granted court approval to proceed as a class action. The lawsuit is open to any business that used VeriSign to incrypt data and personal information on their website. 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 Credit / Debt Cases of Interest A South Carolina consumer filed a class-action lawsuit against the three national credit bureaus, charging that they allow a practice that lowers millions of individuals' credit scores. A class action has been filed in Pennsylvania against collection specialist, NCO Financial Services, Inc. The action is brought on behalf of all Kentucky and Pennsylvania residents who received a collection letter from NCO Financial which included a due date for payment, a date which consumers claim has the effect of overshadowing the statutorily required statement entitling consumers to challenge the validity of the alleged debt. The action is brought under the federal Fair Debt Collection Practices Act and seeks statutory damages as well as injunctive and declaratory relief.
A class action has been filed against American Express Company and the American Express Centurion Bank on behalf of AmEx cardholders, who allege that the company denies them the 20-day grace period to make payments as stipulated in their agreements, and wrongly charges them late fees and finance charges in violation of state consumer protection laws. A statewide class action, with possible national reach, has been filed in Indiana against Collection Specialists, Inc., collection attorney Alan R. Miller, Saint John's Health System and its director of accounts receivable, Philip D. Hilger. The action is brought on behalf of all individuals who have been subject to alleged illegal, intimidating, misleading and deceptive collection practices on the part of the named collectors. The action is brought under the federal Fair Debt Collection Practices Act, Indiana state law on statutory deception and breach of contract and the federal Racketeer Influenced
and Corrupt Organizations Act (RICO) and seeks actual, enhanced, treble and statutory damages as well as injunctive and declaratory relief.
Lenders have to be very careful to correctly tell debtors their rights, or they will find themselves the subject of legal action. A class action has been filed against mortgage servicing company Fairbanks Capital Corporation on behalf of homeowners who allege that the company violated the federal Fair Debt Collection Practices Act and the Illinois Consumer Fraud Act when it allegedly attempted to foreclose on non-delinquent loans and failed to disclose certain information required by the acts. The action seeks unspecified damages, and an order that will force Fairbanks to stop its allegedly predatory lending practices. A statewide class action has been filed in Indiana against the Millikan Law Office and James E. Millikan. The action is brought on behalf of all Indiana residents who have had litigation initiated against them by Millikan in an effort to collect a debt. The action is brought under the federal Fair Labor Standards Act and seeks statutory damages as well as injunctive and declaratory relief. |
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