Popular Leasing USA Inc.

Customers filed a class action lawsuit against the company alleging widespread telecommunications fraud involving NorVergence Inc., a bankrupt New Jersey based telephone equipment and service company. The lawsuit claimed Arizona customers were still being required to make payments on a telecommunications device that is worthless. Between 2001 and July 2004, NorVergence approached small businesses and nonprofit organizations and offered to reduce local telephone, long-distance telephone, wireless and Internet costs by using purportedly high-tech devices called Matrix boxes, which were actually inexpensive data routers. A settlement with Popular Leasing USA Inc. was announced that could result in more than $200,000 in debt forgiveness to Arizona customers. Affected customers will be contacted directly by Popular Leasing within 30 days with details about their individual settlement amounts. (Apr-28-06) [MILWAUKEE BUSINESS JOURNAL]