February 13 2007
In a class action lawsuit brought against cell phone equipment insurance companies, Asurion and Lock/line, a US Judge granted preliminary approval to a nationwide class settlement involving 13 million customers. The lawsuit alleged the companies provided inadequate disclosures and replacement phones. The settlement ended three years of active litigation in Florida and California and in addition to the specific disclosure changes that will benefit all customers, the settlement also provides monetary relief. Roughly 15,000 customers who received a refurbished replacement phone valued at slightly less than the charged deductible will receive vouchers for a free replacement phone with a value of between $75 and $100. 13 million class members can each claim a $5, fully transferable phone card. The defendants have agreed to pay at least $1,500,000 in value to the class for those phone cards that are claimed. (Feb-07-07)
[CELLULAR NEWS: INSURANCE SETTLEMENT
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