Settlement: $27.25 million
Pay-out per customer: Likely less than a dollar
In 2005, a class action lawsuit was brought against Wal-Mart and Netflix alleging the two companies had agreed to stay out of each other's way in the
DVD marketplace.According to the suit, Wal-Mart agreed to stop its mail-order DVD rental business while Netflix agreed not to sell new DVDs. The end result, the suit claimed, was that Netflix subscribers ended up paying higher prices for online DVD rentals.
Netflix is still fighting the accusation but, in October, Wal-Mart agreed to settle the charges for $27.25 million. Of that amount, nearly $9 million will be doled out for attorney and other legal fees and expenses.
Consumers, however, could end up with pocket change. Should the millions of consumers included in the class action file a claim, they'll be lucky to walk away with a dollar. Payments will be made either in cash or in Wal-Mart gift cards.
A company spokesman chose not to comment, other than to say Wal-Mart was "pleased" with the settlement.
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