PayPal in Settlement Deal with 28 U.S. States
Eric Auchard writes for Reuters:
PayPal, the online payments unit of EBay Inc. has agreed with attorneys general from 28 U.S. states to improve how it notifies users of their consumer rights, the company said on Thursday.More here.
Under the deal, PayPal will also pay $1.7 million to the states.
In addition, PayPal said it reached a settlement in a proposed class action lawsuit by PayPal customers in a U.S. federal court in Brooklyn. PayPal agreed to set up a settlement fund of $3.5 million, less court costs and attorneys fees.
PayPal said it will, among other things, shorten and streamline its user agreement and communicate more information relating to its protection programs. The company said it has already complied with many of the voluntary deal's terms.
posted by Fergie @ 9/28/2006 03:23:00 PM
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