A lawsuit has recently been filed against StormPay, an online payment processor, for alleged unfair business practices.
After developing a large user base, StormPay allegedly closed numerous user accounts and also announced that they would no longer offer services to sites which also offered other payment solution methods, such as Paypal or e-gold.
StormPay has been used extensively by autosurf or traffic exchange sites in which the advertisers pay money to display their rotating ad or site. These advertisers are complaining about StormPay's changes, alleging that once these changes were made, payment was not processed and clients made public attacks on their company for delayed payment.
Another lawsuit has been filed in the State of Tennessee on behalf of the Tennessee Securities Division against StormPay and TymGlobal Inc. According to the lawsuit, StormPay and TymGlobal did not register with the Securities Division. StormPay Lawsuit