PayPal to pay withheld payments
Published November 26th, 2005
eBay’s PayPal payment processing business recently reached a settlement with customers who accused the company of illegally freezing their funds. As a result, PayPal said it would pay a total of $9.25m to settle the federal class-action suit, $3.4m of which would go to paying its customers’ legal fees. PayPal admitted no wrongdoing in settling the claims, which were filed in 2002 as part of two federal class-action suits that also alleged other customer-service deficiencies.
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