Did you receive a weird email from “OnlineDVDclass”? If you did, it’s not some stranger trying to sell you unnecessary courses over the Internet. No, you’ve officially been invited to take part in a class-action lawsuit involving Netflix and Wal-Mart.
This past fall, I ditched Netflix when they decided to double the cost of their subscription service (click here to read my post). Apparently, I wasn’t the only one. Thousands of other subscribers have left as well, and the stock is down 63% over the last 3 months.
What Did They Do?
The two companies are being charged with collusion and price fixing. Wal-Mart worked out a deal with Netflix where they would stop their DVD-by-mail service (and not compete with Netflix) as long as Netflix directed their customers to Wal-Mart for DVD sales.
Who Is Eligible to Receive the Benefits?
So far, Wal-Mart is the only party to settle (although they admit no fault). Netflix has not settled and will continue its fight in court.
If you were a paid Netflix subscriber from May 19, 2005 through September 2, 2011 and live either in the U.S. or Puerto Rico, you may be eligible to receive part of the settlement agreed upon by Wal-Mart. Although applicants have until February 2012 to file, early predictions are that each claim will pay out a whopping ~$1.50 each. The ironic part: They will be paid in Wal-Mart gift cards!
If you would like to read more and want to file a claim, visit the website https://onlinedvdclass.com/ for details.
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