DIRS.INFO The most relevant business & tech news

☆ The future of Google — and Big Tech — hangs in the balance at trial
▼ + stars: | 2024-05-02 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Google's landmark antitrust trial is wrapping up this week in DC with closing arguments, capping off a yearslong saga. AdvertisementIn the end, Judge Mehta could clear Google or find it liable, which could result in changes to its search engine contracts. Mehta could even bar Google from making future deals around its search engine. In his testimony, Google SVP Prabhakar Raghavan noted the search giant is referred to as "Grandpa Google" in some circles and cited execs' fears that its influence might be dwindling.

Persons: —, Amit Mehta, Satya Nadella, Sundar Pichai, Google's, Kent Walker, Judge Mehta, Mehta, Prabhakar Raghavan, Google Organizations: Service, Apple, Business, US, Microsoft, Justice, Google, The New York Times, DOJ, FTC, Amazon, Meta, Big Tech, AP

☆ The FTC says Jeff Bezos and Amazon execs used Signal to talk business — and it wants to know more
▼ + stars: | 2024-04-26 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Amazon execs used messaging app Signal to discuss business matters, the Federal Trade Commission said. The agency wants to know if execs told Amazon staff to delete messages, and when to use Signal. AdvertisementAmazon's top executives used the encrypted messaging app Signal to discuss "sensitive business matters," the Federal Trade Commission said in a court filing on Thursday. The founder said, "Are you on signal messaging app? "Amazon also recognizes that sellers believe 'that it has become more difficult over time to be profitable on Amazon,'" the FTC filing stated.

Persons: execs, —, Jeff Bezos, Andy Jassy, David Zapolsky, Jeff Wilke, Dave Clark, Tim Doyle, Mike Hopkins, Carlo Bertucci, Amazon's, Zapolsky Organizations: Federal Trade Commission, Amazon, Service, FTC, Amazon MGM Studios

☆ How to claim $500 from Walmart as the chain pays up after accusations of overcharging customers
▼ + stars: | 2024-04-06 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

A class action settlement could mean a payday for Walmart shoppers. The shopping giant resolved allegations of overcharging customers in a $45 million settlement. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Walmart reached the $45 million settlement to resolve allegations that the retail giant overcharged shoppers for its sold-by-weight products, including packaged meat and certain bagged citrus, according to legal documents. This story is available exclusively to Business Insider subscribers.

Persons: —, you've Organizations: Walmart, Service, Business

☆ The $40 martini is in, and it's giving loud luxury
▼ + stars: | 2024-03-01 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

The maximalist martinis encapsulate the "loud luxury." Loud luxury, in contrast to quiet luxury, is about spending a lot and owning it. "Call it loud luxury," she wrote. Loud luxury, in contrast, isn't afraid to show off. It's not necessarily the logo that makes something loud luxury, but anything that stands out and signals "this is expensive."

Persons: —, Boon, Jaya Saxena, Punch —, Kendall Roy, HBO's, Lauren Saria, Punch, Martini Organizations: Service, Ilis Locations: New York, San Francisco, San Francisco and New York, Manhattan, there's, Ilis, Miami

☆ One New Yorker won $150,000 when she found out her landlord had been overcharging her. Now a bunch more tenants are using stabilization laws to get money back and pay cheaper rent.
▼ + stars: | 2024-02-28 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +13 min

AdvertisementAs TikTok becomes the new town square for all things economic transparency, the latest target of populist ire is New York City landlords. Several videos that have recently gone viral show viewers how to look into their rent histories and call out examples of potentially illegal hikes. Wait times for rent histories are now at 20 business days, up from 10 in late January, as a result of "social media activity." Klenkar has made TikToks about her old apartment and rent histories and has had "lots" of people reach out with their own rent histories. More may be on their way as New Yorkers seem to be requesting their rent histories en masse.

Persons: they've, —, Danielle —, Danielle, TikTok, it's, There's, they're, Allia Mohamed, She's, Mohamed, They've, he's, Carla —, Carla, Thomas Trutschel, Anna Klenkar, Klenkar, I've, Gothamist, DHCR, overcharge, Esteban Girón, shouldn't, It's Organizations: New York, Tenants, Service, Business, BI, Yorkers, New, US, Division, Housing, Community, Rent Administration, Rent, New York State Homes, Community Renewal, Tenant Union, Tenants PAC, Directors Locations: New York State, Cobble Hill, Brooklyn , New York, York City, New York, New York City, New, Washington Heights, Manhattan, Long Island City, Lower, Side, backpay

☆ Australia unveils plan for largest navy buildup since World War II
▼ + stars: | 2024-02-20 | by ( Brad Lendon | ) edition.cnn.com time to read: +6 min

CNN —Australia on Tuesday announced plans to build its largest navy since World War II, allocating more than $35 billion for the defense project over the next 10 years, in a move analysts said pointed to heightened tensions with China in the Indo-Pacific. The independent review noted Australia had “the oldest fleet Navy has operated in its history,” according to the government statement. John Bradford, Council on Foreign Relations international affairs fellow, said Australia would need to be steadfast in sticking with the plan. “This investment provides a clear pathway for the shipbuilding industry and workforce in South Australia and Western Australia,” the release said. However, the opposition Greens party called the plan a “multi-billion-dollar mistake” driven by local political concerns to protect shipbuilding jobs – and political ones.

Persons: ”, Mark Hammond, Collin Koh, ” Jennifer Parker, Parker, John Bradford, Bradford, Andrew Hastie, ” Hastie, that’s, ” Koh, Pat Conroy, Sen, David Shoebridge, CNN’s Angus Watson, Hilary Whiteman Organizations: CNN, Australia, Royal Australian Navy, US Navy, Navy, Rajaratnam, of International Studies, UNSW Canberra, Australian Broadcasting Corporation, ABC, Hobart, Foreign Relations, Greens, ” Greens Locations: China, Australia, United States, United Kingdom, Singapore, South, Northeast Asia, Japan, South Korea, Germany, Spain, Australian, South Australia, Western Australia

This black market for foreign currencies is among the signs of the economic woes plaguing Algeria. In the oil-rich North African nation, business owners are rumored to be dumping their assets and scrounging up euros on the black market so their wealth isn't stuck. The government estimates roughly $7 billion worth of foreign currency trades hands on the country's black market. Traders are intimately aware that the gap between the official and black market exchange rate can narrow or widen by the day. The growing chasm between the official and black market rates meant fewer euros are getting into the country, he said.

Persons: isn't, Belamane, Nourdine Sadaoui, Hicham Safar, “, ”, Abdelmajid Tebboune, Karim Allam Organizations: Associated Press, Traders, “, Bank of Locations: ALGIERS, Algeria, Algiers, Mecca, Europe's, Lebanon, Nigeria, Bank of Algeria, Ukraine, Europe, Russian

Learn moreWith its inaccessible prices, technical terminology, and nebulous production practices, the world of fine jewelry is intimidating to step into. For a generation that cares simultaneously about value, style, sustainability, and ethics, it can be challenging to find the best online jewelry stores that meet our criteria. We did a full review of Ana Luisa and love how well the pieces hold up, even if you shower and swim with them. Other than Ana Luisa, we've found that Quince's jewelry selection is a great hidden gem for fine pieces that deliver on quality. These trustworthy online jewelry brands, hand-selected and tested by our style editors, will make the decision easy without overcharging you in the process.

Persons: Ana Luisa, we've

☆ Mallinckrodt Avoids $40 Million SEC Fine in Medicaid Overcharge Case
▼ + stars: | 2023-12-02 | by ( David Smagalla | ) www.wsj.com time to read: 1 min

Mallinckrodt didn’t admit or deny the SEC’s findings. Photo: Whitney Curtis/Associated PressThe U.S. Securities and Exchange Commission said Mallinckrodt failed to tell investors it had potentially overcharged Medicaid for its flagship drug, but the regulator waived a $40 million civil penalty partly because the pharmaceutical company agreed to hire a compliance consultant. The SEC said in an administrative proceeding Thursday that the Centers for Medicare and Medicaid Services informed Mallinckrodt as early as 2016 that the company was using an incorrect rebate rate for its sales of Acthar Gel, a drug used to treat several rare autoimmune diseases, which meant it was overcharging state Medicaid programs for the drug.

Persons: Mallinckrodt didn’t, Whitney Curtis, Mallinckrodt Organizations: Associated Press, U.S . Securities, Exchange Commission, SEC, Medicare, Services

☆ Bankrupt Bed Bath & Beyond Seeks $300 Million From MSC Line for Pandemic Shipping Charges
▼ + stars: | 2023-11-29 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

Bed Bath & Beyond filed for bankruptcy protection in April. Photo: Richard B. Levine/Zuma PressThe bankruptcy estate of Bed Bath & Beyond has filed the largest ever lawsuit with the Federal Maritime Commission, seeking around $300 million from Mediterranean Shipping Co. for allegedly overcharging to move its cargo during the pandemic. The bankrupt retailer wants Geneva-based MSC, the world’s largest boxship operator in terms of capacity, to pay around $150 million for damages and an equal sum for what it described as exploitative and coercive behavior. Complaints by American companies are handled by the FMC , the U.S. maritime regulator.

Persons: Richard B, Levine Organizations: Zuma, Bed, Federal Maritime Commission, Mediterranean Shipping Co, FMC Locations: Geneva, U.S

☆ Ferrovial ends bumpy Heathrow ride on a high
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 29 (Reuters Breakingviews) - Ferrovial (FERF.AS) may be relieved to be exiting one of the world’s busiest airports. The Spanish infrastructure giant has sold its final stake in Heathrow, left over after its 2006 acquisition of BAA, which owned the hub along with Stansted and Gatwick. Regulators forced BAA to sell airports like Gatwick on competition concerns, and Ferrovial later trimmed its stake to just 25%. In 2020 Covid-19 struck, and Heathrow has since been locked in disputes with airlines like British Airways, who accuse it of overcharging. The price paid by Ardian and Saudi Arabia’s Public Investment Fund values Heathrow including debt, at 25 billion pounds, a 27% premium to its regulated asset base.

Persons: –, Aimee Donnellan, Julius Baer’s, Lisa Jucca, Streisand Neto Organizations: Reuters, BAA, Stansted, Regulators, Gatwick, Heathrow, British Airways, Saudi Arabia’s Public Investment Fund, Jefferies, X, Barclays, Thomson Locations: Spanish, Heathrow, Gatwick, It’s

☆ Dollar General is overcharging customers at checkout in several states, according to lawsuits and customers
▼ + stars: | 2023-11-22 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Customers and state governments have accused Dollar General of overcharging for various products. Additionally, two Dollar General customers and two employees told Business Insider they'd been overcharged or had seen customers overcharged in Florida, Pennsylvania, West Virginia, and Alabama. High turnover and reduced hours for Dollar General employees have led to merchandise crowding aisles, creating safety hazards. The state's Department of Agriculture, Trade, and Consumer Protection said inspectors had found that Dollar General stores overcharged customers for 9% of products the inspectors evaluated. In North Carolina, Dollar General paid nearly $71,000 in fines related to its pricing practices from August 2022 to April 2023.

Persons: —, they'd, Andrew Bailey, Catherine, she'd Organizations: Service, Dollar, Business, state's Department of Agriculture, Trade, Consumer Protection Locations: Ohio, Missouri, Wisconsin, Vermont, North Carolina, Florida , Pennsylvania, West Virginia, Alabama, Iowa, Pennsylvania, Florida

☆ Britain’s Royal Mail can’t deliver letters and parcels on time
▼ + stars: | 2023-11-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —An entire museum in London is dedicated to celebrating the 500-year-long history of British postal services. Royal Mail, the official postal service of the United Kingdom, cannot deliver letters and parcels on time, according to the country’s communications regulator. Royal Mail has struggled with falling demand for parcel deliveries as hard-pressed consumers cut spending and as a surge in online shopping during the Covid-19 pandemic has faded. “Last year was uniquely challenging for Royal Mail,” the postal and delivery services group said in a statement Monday. It’s the second time in three-and-a-half years that Ofcom has fined Royal Mail for late deliveries.

Persons: “, ”, Ian Strawhorne, King Henry VIII, “ rightsize, hasn’t, Strawhorne Organizations: London CNN, Mail, Ofcom, London, Royal Mail, Royal, International Distributions Services, Stansted Airport, Services Locations: London, United Kingdom, British

NEW YORK (AP) — Donald Trump has testified in court as a football owner, casino builder and airline buyer. Trump has testified in court in at least eight trials since 1986, according to an Associated Press review of court records and news coverage. They show clear parallels between Trump as a witness and Trump as a president and current candidate for the office. Trump testified that his $365 million purchase, later approved, would be a “major boost in morale” for employees. In his April deposition, Trump soberly described the presidency as the “most important job in the world” before bragging about saving lives by preventing North Korean dictator Kim Jong Un from launching a nuclear attack.

Persons: — Donald Trump, Trump, Letitia James ’, Eric, Donald Trump Jr, Andrew Amer, Donald J, Roy Cohn, Cohn’s, Mike Tyson, “, ” Trump, Shelly Kulwin, Jacqueline Goldberg, ” Kulwin, you’re, ’ ” Goldberg, ”, He’s, “ Perry Mason, overcharging, James, hyping, it’s, I’ve, Trump soberly, Kim Jong Un, __ Tucker, Jill Colvin, Michael Sisak, Eric Tucker Organizations: Republican, White, Trump, New York, Trump Organization, Associated, New, New Jersey Generals, NFL, Eastern Air Lines, “ Trump, Associated Press Locations: York, New Jersey, Manhattan, Trump, Washington, Atlantic City , New Jersey, New York, Chicago, New York's Westchester County, Florida, Lago, x.com

The Biden Administration proposes a crackdown on "junk fees" in retirement savings plans. However, high expense ratios in your account may be cutting into your future retirement savings. But there are still some preventive steps you can take to minimize any potential "junk fees" in your retirement savings plan. 4 ways to lower 'junk fees' in your retirement planThe Biden Administration wants to crack down on "junk fees" in 401(k)s and other investment accounts. Until then, here are four steps you can take to lower fees in your retirement savings plan.

Persons: Biden, —, Charles Schwab, Robinhood, Judy Diamond's, Roth, it's, Teresa Bailey, Chloe Wohlforth Organizations: Service, US Department of Labor, Biden Administration, Employers, Mutual, Roth IRA, Waddell & Associates, Robinhood, Department of Labor, CFP, Angeles Wealth Management

☆ A mystery company backed by Silicon Valley elites is buying up land to build a new city. Farmers say they've been pressured to sell up.
▼ + stars: | 2023-10-31 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

New filings accuse the company backed by Marc Andreessen and Reid Hoffman of forcing farmers to sell up. Solano County farmers say Flannery Associates targeted them with pressure tactics and litigation. The company has bought up 52,000 acres outside San Francisco to build a utopian city. AdvertisementAdvertisementThe company that wants to create an entirely new city in California, and that's backed by Silicon Valley billionaires, has been accused of coercing farmers into selling their land. AdvertisementAdvertisementCalifornia Forever, the parent company behind Flannery Associates, did not immediately respond to a request for comment from Insider, sent outside normal working hours.

Persons: Marc Andreessen, Reid Hoffman, Flannery, —, John Garamendi, Jan Sramek, Mark Friedman, Princess Washington Organizations: Service, Silicon, Bloomberg, California, KQED, New York Times, Flannery Associates Locations: Solano, San Francisco, California, Solano County, Sacramento, Princess, Suisun City

That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

☆ Court OKs Mallinckrodt restructuring, $1 billion cut to opioid settlement
▼ + stars: | 2023-10-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +4 min

Despite the previous bankruptcy settlement that resolved those litigation threats and cut $1.5 billion in debt, Mallinckrodt quickly found itself in financial trouble again due to declining sales for its key branded drugs, including Acthar Gel. As part of its previous bankruptcy, Mallinckrodt, which denied wrongdoing, agreed to pay $1.7 billion to settle about 3,000 lawsuits alleging it used deceptive marketing tactics to boost opioid sales. Unlike the opioid settlement, Mallinckrodt intends to pay the full amount due under the Acthar settlement after its second bankruptcy. Dorsey overruled an objection filed by shareholder Alta Fundamental Advisers, which had argued that Mallinckrodt improperly rushed into a second bankruptcy at the expense of equity owners. The reorganized company has a total enterprise value of about $2.95 billion, according to Mallinckrodt's financial advisor Guggenheim Securities.

Persons: Hydrocodine, Mallinckrodt, George Frey, John Dorsey, Siggi Olafsson, Mallinckrodt's, Dorsey, Dietrich Knauth, Alexia Garamfalvi, Bill Berkrot, Richard Chang Organizations: REUTERS, Tuesday, Acthar, Deerfield Partners, JPMorgan Investment Management, Fundamental Advisers, Securities, Thomson Locations: Provo , Utah, U.S, Ireland, Wilmington , Delaware

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. These are the specific allegations included in the FTC's 172-page complaint:ONLINE SUPERSTORE, SERVICES MONOPOLIES*The agency alleged that Amazon had a monopoly in an online superstore market. *The agency also said that Amazon had a monopoly in the online marketplace for services, where Amazon has more than 70% of the market. PUNISHES SELLERS FOR LOWER PRICES ELSEWHERE* The complaint alleged Amazon uses a sophisticated network of web crawlers that identify which of its sellers offer their products more cheaply on other platforms. MONITORING PRICES* Amazon used the Project Nessie pricing system as an unfair method of competition.

Persons: Pascal, Nessie, Diane Bartz, Jamie Freed Organizations: REUTERS, Rights, U.S . Federal Trade Commission, Amazon.com, Amazon, Walmart, FTC, Amazon's, Thomson Locations: Lauwin, France, United States

☆ Australian regulator sues PayPal unit over unfair term in small business contracts
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The PayPal logo is seen at an office building in Berlin, Germany, March 5, 2019. The Australian Securities and Investments Commission (ASIC) said it has started proceedings against PayPal Australia Pty Ltd in a case that highlights a contract term that gives PayPal business account holders 60 days to notify discrepancies in fees charged. The regulator views the term as unfair as it authorises PayPal to retain fees it has inaccurately charged. "We allege this term is unfair because it allows PayPal to escape the consequences of its own errors in overcharging small businesses, and places additional burdens on small businesses to detect and correct charging errors," ASIC Deputy Chair Sarah Court said. As at June 30, there were about 608,275 business account contracts between PayPal and active users in the country.

Persons: Fabrizio Bensch, Sarah Court, Roushni Nair, Poonam Behura, Shailesh Organizations: PayPal, REUTERS, Australian Securities and Investments Commission, PayPal Australia, Reuters, Thomson Locations: Berlin, Germany, Bengaluru

☆ Google reaches tentative settlement in US Play Store lawsuit
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Steve Marcus/File Photo Acquire Licensing RightsSept 6 (Reuters) - Alphabet's (GOOGL.O) Google on Tuesday tentatively settled a class action suit alleging that its U.S. Play Store had violated U.S. federal antitrust rules by overcharging customers, according to a court filing. Google, which had denied wrongdoing, declined to comment on the proposed settlement. Google is facing similar lawsuits which allege that it has generated enormous profit margins from its Play Store by engaging in illegal tactics to preserve monopolies in selling Android apps and in-app goods. The case is In re Google Play Store Antitrust Litigation, U.S. District Court, Northern District of California, No.

Persons: Steve Marcus, Tim Sweeney, Anirudh, Mike Scarcella, Kanjyik Ghosh, Jamie Freed, Edwina Gibbs Organizations: REUTERS, Google, U.S, District of Columbia, Epic, Court, Northern District of, Thomson Locations: Las Vegas , Nevada, U.S, Utah, Northern District, Northern District of California, Bengaluru

The insurer said the rule, which would apply retroactively, was "arbitrary and capricious," and threatened "unpredictable consequences for Medicare Advantage organizations and the millions of seniors who rely on the Medicare Advantage program for their healthcare." Close to half of the approximately 65 million Medicare enrollees sign up for Medicare Advantage. Medicare Advantage plans differ from traditional Medicare because private companies offer them, and are reimbursed by the government for care. Though Humana is based in Louisville, Kentucky, it filed its lawsuit with the U.S. District Court in the Northern District of Texas. The case is Humana Inc et al v Becerra et al, U.S. District Court, Northern District of Texas, No.

Persons: Andrew Kelly, Humana, Biden, Xavier Becerra, District Judge Reed O'Connor, Becerra, Jonathan Stempel, Leroy Leo, Richard Chang Organizations: Humana Inc, REUTERS, U.S, overcharges, Medicare, Services, Jan, U.S . Department of Health, Human Services, CMS, Northern District of Texas, District, Fort, Affordable, Court, Northern District of, Thomson Locations: Queens , New York City, U.S, Louisville , Kentucky, Northern District, Northern District of Texas, New York, Bengaluru

☆ Direct Line faces $38 million redress bill for overcharging customers
▼ + stars: | 2023-09-01 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Signage for the FCA (Financial Conduct Authority), the Britain's financial regulatory body, is seen at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - British insurer Direct Line (DLGD.L) has agreed to review overcharging of existing home and motor customers totalling about 30 million pounds ($38 million) for policy renewals, the Financial Conduct Authority (FCA) said on Friday. "Direct Line Group will carry out a review to identify all instances where a customer has been overcharged and provide appropriate redress," the FCA said in a statement. "As a result, those customers have paid a renewal price higher than they should have," Direct Line said. Earlier this week, Direct Line named a new CEO as it seeks to reset after profit fell by 95% in 2022.

Persons: Toby Melville, Huw Jones, David Goodman, David Evans Organizations: FCA, Financial, Authority, REUTERS, British, Direct, Thomson Locations: London, Britain

☆ US judge set to decertify Google Play class action
▼ + stars: | 2023-08-28 | by ( ) edition.cnn.com time to read: +1 min

CNN —A US judge plans to free Google from having to defend against a class action by 21 million consumers who claimed it violated federal antitrust law by overcharging them in its Google Play app store. Monday’s decision by US District Judge James Donato in San Francisco could significantly reduce damages that Google, a unit of Alphabet, might owe over the distribution of Android mobile applications. The judge said he couldn’t decertify the class immediately because Google had been appealing his November order. The class action included consumers from 12 US states and five territories, who were not part of a similar case against Google brought by various state attorneys general. The case is In re Google Play Store Antitrust Litigation, US District Court, Northern District of California, No.

Persons: overcharging, James Donato, Donato, couldn’t Organizations: CNN, Google, US, Consumers, District of Columbia, Epic, Court, Northern District of Locations: San Francisco, Northern District, Northern District of California

☆ Wells Fargo overcharged nearly 11,000 investment accounts with advisory fees, SEC alleges
▼ + stars: | 2023-08-25 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —For years, Wells Fargo overcharged almost 11,000 investment advisory accounts about $27 million in fees, federal regulators alleged on Friday. Wells Fargo agreed to pay a $35 million civil penalty to settle the matter, without admitting or denying the SEC charges. The agency said Wells Fargo also paid account holders about $40 million — including interest — to reimburse customers who’d been overcharged. The SEC also said Wells Fargo overcharged some clients who opened accounts prior to 2014 through the end of 2022. Wells Fargo spokesperson Caroline Szyperski said Wells Fargo Advisors conducted a “thorough review” of accounts and has fully reimbursed affected customers.

Persons: Wells, Wells Fargo, “, ” Gurbir Grewal, Edwards, Caroline Szyperski, “ We’re Organizations: New, New York CNN, Securities, Exchange Commission, SEC, Wells Fargo Advisors, Wachovia, Advisors Locations: New York, Wells Fargo overcharged, Wells, Wells Fargo

Search resuls for: "overcharging"

25 mentions found