VeriThe Verizon Settlement payout was delayed earlier due to a legal appeal. However, now the appeal is resolved, the class members who have filed the claim form before the deadline can expect their payment soon. Claimants wondering about the payout date can check the expected date and other settlement details here.
Verizon Settlement Payout Date
The class members who filed the claim form were expecting the payments after the final approval, however, due to an appeal against the class action lawsuit, the payment was delayed or halted. According to the latest update on the settlement website, the appeal against the settlement was withdrawn, and now the settlement is active.
The class members with valid claims will receive the payout soon as the administrators plan to distribute the compensation in December 2024. So, valid claimants can expect cash benefits via their preferred payment method by the end of December 2024.
Verizon Settlement Payout Distribution Method
The Verizon telecommunication company has proposed to compensate the Plaintiffs and class members with a $100 million settlement fund to resolve the case. The $100 million settlement will be first used to cover the following expenses and costs before it gets distributed among the class members:
- Settlement Administrator cost for sending settlement notice and other expenses
- Attorney’s fees and Cost
- Service Awards for Plaintiffs awarded by the court
- Other expenses, such as tax expenses, and all
The remaining amount after deducting the above expenses & costs from the Verizon settlement, you may receive the payout from the Net Settlement fund. The distribution of Net settlement funds among the class members depends on the following factors:
- No. of Valid Claimants
- Net Settlement Fund after deducting the above amount
How much will you receive in the Verizon Settlement?
According to the Verizon class action settlement agreement, the class members who have filed valid claims can receive $100 into their account as compensation for the inconvenience with Verizon administrative charges and misleading practices. The amount of $100 may vary from customers based on how long they have been Verizon customers and the number of valid claims.
The administrator will initially process the $15 payout to the claimants, and then $1 for each month you have paid the administrative charges or Telco Recovery Charges and used the postpaid Wireless or data services between the class period 01 Jan 2016 to 08 Nov 2023.
The $1 amount for each month you paid the administrative charges can go up to $100 seeing the class period. The class members should understand this is not the final amount, it can decrease if the Net settlement fund is not sufficient after deducting all the Court-approved expenses to pay the estimated compensation amount.
Who will receive the Verizon Settlement Payout?
The US people who meet the following requirements can receive the upcoming Verizon Settlement payout:
- You are a current or former individual customer of Verizon telecommunication services company in the US who has enrolled in the postpaid wireless or data services and paid the administrative charges/ Administrative & Telco Recovery Charge between the class period, 01 January 2016 and 08 November 2023.
- You have received the settlement notice and filed the valid claim before the deadline of 15 April 2024.
Exclusion:
- The judges associated with the Verizon Class action settlement or their immediate members of the family are excluded from the settlement.
- Verizon employees, directors, officers, subsidies, and entities are excluded from the settlement compensation.
- Class members who opted out of the settlement by filing the timely opt-out request before 20 February 2024.
What to do if your mailing address or other pay info changes?
If by any chance the settlement payment remains attended or checks remain uncashed, the administrator will treat such payment as unclaimed property of the settlement. The claimants may not have the chance to receive the compensation, so if you don’t wish to miss the payment due to a change in mailing address or mobile number, you should submit a request to the administrator.
You can update your claim form with changes by visiting the settlement website at https://www.verizonadministrativechargesettlement.com/home in the following steps:
- When you go to the Verizon Administrative Charges Settlement website go to the Submit Claim option.
- Next, enter your Notice ID and confirmation code you received in the notice via email or letter and in the confirmation email you received after submitting the claim form.
- Now, you can edit your claim form with appropriate info or changes you have to make.
If you have sent the claim form via email, you can update your claim form information by sending the email to [email protected] or you can send the letter to the Settlement address. However, we suggest updating the claim form info online as it will be the fastest and most convenient.
The Verizon settlement for charging administrative charges and Telco recovery charges without mentioning it in the plan has caused inconvenience to the customers. Last year, the FTC banned such practices and asked businesses to show such prices to the customers so that consumers have the full information.
The affected customers who have filed the claim for the settlement before 15 April 2024 and waiting for the payment can expect their cash payment of up to $100 soon in December 2024.
