Verizon Settlement Payout Date – Payment Amount, Eligibility & Other Details!

By Niks

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Verizon Settlement Payout Date

The Verizon customers may receive the payout from the $100 million class action settlement. The eligible customers who have submitted their claim and are expecting the payment can check out the payout date, payment amount, and other information related to the Verizon Administrative settlement.

Verizon Settlement Payout Date

Earlier this year, the eligible customers of Verizon received the notice to submit the claim for Verizon administrative charges class action settlement. Verizon customers who have submitted the claim by 15 April 2024 to receive compensation from the administrator must be expecting their payments. 

The final approval of the Verizon administrative charges settlements is still not confirmed. The payments of any class action process after the final approval by the Court on the fairness and reasonable settlement. The fairness hearing was held on 22 March 2024 at the New Jersey Superior Court. 

The Verizon customers who are class members affected by the company’s deceptive practices can expect the payment after the court’s approval. The settlement administrator will process the payment onto the accounts of the valid claimants if everything stays in order, the claimants can expect the payment in August or September 2024. 

What’s the Verizon Administrative charges lawsuit about?

The plaintiffs (Verizon’s current and former customers) claim the company charged additional monthly administrative charges to customers who purchased post-paid wireless plans. The plaintiffs alleged that the company used misleading advertisements of the post-paid wireless service plans as they did not include the administrative charges. 

 The company implemented, charged, and raised the administrative charges unfairly which increased the paid charges more than the customers expected. In Nov 2023, the plaintiffs and Defendants agreed to settle the lawsuit with the settlement amount of $100 million. The court does not confirm the misleading practice of the defendants and validate the plaintiff’s or defendant’s claims.

The defendant did not agree with the allegations and continues to deny such practice. The communication company says they will continue to charge the administrative charges as it’s their right to raise the charges for the profit. However, the company says that it will amend the customer agreement with revised administrative charges. 

Who will receive the Verizon Settlement payment?

The Verizon customers who meet the following eligibility requirements will receive the Verizon settlement payment:

  • The current and former Verizon customers in the United States who paid the administrative charges or a telco recovery charge for postpaid wireless or data services between 1 January 2016 and 8 November 2023 will be the class members. 
  • The class members who have submitted the claims before the deadline of 15 April 2024 on the official website of the Verizon Administrative charges settlement. 
  • Verizon directors, officers, and affiliated entities or any member of the families are excluded from the settlement class. 

The class members who have not done anything or opted out of the settlement before the deadline are not entitled to receive the settlement amount. 

Verizon Settlement Amount Distribution 

Verizon’s former and current customers who submitted valid claims for the settlement would get the payout from the net settlement fund. The Net Settlement  Fund services from the settlement amount, when the administrator subtracts the following amount from the Gross Settlement Fund ($100 Million):

  • Administrative costs and fees
  • Attorney’s cost and fees to present the case up to 33% of the settlement amount ($33.3 million)
  • Settlement class counsel awards
  • Class Representative Service awards up to $3,500 for their efforts and commitment
  • Cost of Distribution notices
  • Other expenditures to implement the settlement.

The $100 million settlement fund will be distributed to manage the expenditures, fees, costs, and awards, and then to each class member. 

Verizon Settlement Payout per person

The class members’ payout depends on the net settlement fund and no. of the valid claims. The settlement administrator reviews the claim and identifies the valid claims. According to the calculation of the final payment from the administrator, the claimants can expect the following payment:

  • Each valid claimant can expect a base payment of $15 through the settlement.
  • The class members with valid claims are also entitled to an additional payment of $1 for each month they have paid the administrative charges or Telco Recovery charge for their post-paid Verizon wireless services between the class periods.
  • According to reports, the class member with a valid claim can receive up to a maximum payment of $100 under the settlement.

The valid claimant will receive the settlement payout issued by the settlement administrator and if the aggregate payments exceed the Net Settlement Fund, the settlement payments will be reduced on a pro-rata basis for each valid claimant. 

How will you receive the Verizon Settlement payment?

The class members with valid claims will receive the settlement money after the final approval from the court via the following ways:

  • Paper check
  • Direct Deposit to the accounts

The settlement administrator appointed by the court will issue the payment to the valid claimants, and the settlement payment checks that remain uncashed or undeliverable after the issuance will be treated as unclaimed property. 

Hence, if in any case, there are some changes to report regarding your address and communication, you can edit your submitted claim form through your Notice Claim ID and confirmation code and submit the claim through the same method you have submitted the previous claim. 

The claimants are advised to add their current communication details so that their payout is not missing and the administrator can locate their claim. 

The Verizon Administrative charges settlement awaits final approval of the court,  hence, the amount can be lowered or increased as per the court guidelines. The claimants should frequently visit the Verizon class action lawsuit settlement website to stay updated on the settlement proceedings. 

5 thoughts on “Verizon Settlement Payout Date – Payment Amount, Eligibility & Other Details!”

  1. I wanted to inform you we have moved since this law suit began & we filled out our information for payment. Our old information was Roger W. Gryder 1411 BelAir Ave, Alliance, NE 69301 but we’ve since moved to OK so our address is Roger W. Gryder 29605 Pocohontas Rd, Wister, OK 74966. I hope we can get this changed before anything goes out or you can do a direct deposit but you’d have to contact us to get the information. Thank you.

    Reply
  2. I have not been contacted on my portion of the lawsuit settlement.
    Correlations ID a0d24c18-f22e-4a13-b2cc-ac5cae7025ee

    Reply

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