New York University, Yale University and the Massachusetts Institute of Technology are facing lawsuits for allegedly making retirement-savings plan members pay exorbitant fees. NYU, Yale and MIT — each having retirement plans holding over $3 billion in assets — are being individually sued by employees looking to establish a class-action lawsuit. Two of the three …
Attorneys for the plaintiffs steering committee (PSC) in the multidistrict class-action litigation over the Deepwater Horizon explosion and oil spill have asked the presiding judge to approve $600 million in attorney and common plaintiff benefit fees, saying the reimbursement is warranted given the case’s staggering scope and complexity. When BP and the other companies involved in …
The largest bank in the United States settled a class-action lawsuit this week that stemmed from outcry over excessive fees the institution charged former prison inmates over the last four years. JPMorgan Chase won a government contract in 2008 to furnish inmates freed from all U.S. federal prisons with debit cards connected to money they were sent or earned while …
In July 2015, Michael Cordas hailed an Uber and waited for it at the appointed place, outside the Grand Hyatt Hotel in midtown Manhattan. And he waited. The car’s estimated arrival time came and went.
Index funds often benefit from a low-cost halo. They don’t all deserve to bask in that glow. Allegations of excessive index fund fees in retirement plans are at the heart of a new proposed class action lawsuit brought by New York Life Insurance Co. employees against the company.
MasterCard is facing damages claims that could reach as much as £19 billion for alleged illegal card charges between 1992 and 2008. It is claimed the global company made shops pay higher fees than they should have when customers purchased goods using their credit cards. The fees – called “interchange” – are often included into the price of the item, with experts saying shops charge more for …
A $7.25 billion settlement between merchants and Visa Inc. and MasterCard Inc. over credit card transaction fees was rejected Thursday by a federal appeals court, a ruling praised by a retail trade association as a victory for consumers. The 2nd U.S. Circuit Court of Appeals in Manhattan said the 12 million merchants covered by the antitrust class action were inadequately represented by law …
Merchants score victory over Visa and MasterCard as court tosses $7.25bn interchange settlement In a win for merchants, a US federal appeals court has killed off a $7.25 billion class action settlement over interchange fees between millions of retailers and Visa and MasterCard. The huge settlement over claims that the card schemes had improperly fixed credit and debit card swipe fees was agreed …
As anyone who has flown Ryanair and other budget airlines knows, the cheapest fares don’t always end up being very cheap. Low-cost carriers, whether Ryanair or Spirit or Frontier, offer the most basic service — efficient passage from point A to point B — for a lower price tag than legacy airlines. If you want to make the experience more palatable, and less like a flying Greyhound bus, you have …
Bought a show ticket through Ticketmaster in the last decade or two? If so, a newly landing email declaring you are due “benefits” in a class-action lawsuit – Schlesinger v. Ticketmaster – is legit, not some Nigerian get-rich scam. Still, the terms and nature of the win may make you wonder, “Why bother?”