A federal judge this week rejected a proposed $40 million settlement between Intuit, the company behind TurboTax, and a Class of consumers suing the company for allegedly directing them away from the TurboTax free edition even though they were eligible to use it.
As a result, many of the consumers participating in the class action lawsuit entered into arbitration with Intuit.
Shortly after that happened, the company and the plaintiff’s legal team worked out a proposed settlement that called for $28 million to be paid to the Class Members – which reportedly would have netted them $56 each if 7.5% (that equates to 6.67 million eligible or 1/2 million filing claims) of those eligible submitted a claim form. The lawyers representing the consumers would get $10 million plus litigation expenses.
the lawyers become millionaires and the consumers get the shaft.
since is not settled it's unclear how you participate or enter into arbitration.
