Thursday, November 17, 2011

Walmart to Payout Netflix Customers

Walmart is willing to settle Netflix case for $27.5 based on allegations that the video subscription service and Walmart illegally conspired to inflate the prices to rent and buy DVDs. The proceeds will be offered in Walmart gift cards or cash.

However out of $27.5 lawyers and costs are going to take away around $8.5 million. Remaining $19 million would be distributed amongst 25 Million Netflix subscribers. Assuming everyone is eligible don't expect more than $1 payout.

Unlike Walmart Netflix is not willing to payout and is still preparing to fight the allegations. Next hearing is scheduled to begin on Jan 23rd.


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