If you used Ticketmaster's website to buy tickets between October 21, 1999 and October 19, 2011, you're in for a windfall.
Well, a $1.50 per ticket order windfall.
Because of a proposed class action settlement, Ticketmaster is being forced to credit $1.50 per ticket order (up to 17 orders) to customers due to the fact that they profited off of "processing fees" without declaring as much.
And despite the reparations, Ticketmaster can continue to profit off transactions — they just have to say they're doing so on their website.
According to court documents, the original claim, filed October 21, 2003, also implicates UPS' delivery price for expedited delivery of tickets as deceptive. Those part of the UPS subclass of the suit are entitled to an additional $5.00 credit per ticket. Both credits are in the form of vouchers, which can be redeemed a maximum of two at a time.
This could end up costing Ticketmaster a hefty amount of money. If, in any given year over the four-year redemption period, less than $11.25 million is redeemed by customers, Ticketmaster is going to donate the remainder to charity.
Also, the Counsel attorneys plan to ask for an award of up to $16,500,000 in attorneys’ fees and expenses, as well as $20,000 to the two plaintiffs who brought forward the class action in the first place.
Don't expect your credits quite yet, though. Credits won't be issued prior to April 15, 2012, and should come within 30 days after Final Approval of the settlement (currently scheduled for May 29, 2012).
More From Business Insider
- SocGen Is Suing A Tabloid For Saying It Was 'On The Brink Of Disaster' Last Summer
- CEO Banned From Being A Banker Can Still Bank, Says Spanish Government
- Two Concertgoers Are Suing Ticketmaster To Make You $1.50 Richer