9th Circ. Nixes Credit Report Cos.' $45M Deal With Consumers

Law360, Los Angeles (April 22, 2013, 11:18 PM EDT) -- The Ninth Circuit on Monday reversed a lower court's $45 million settlement award in three class actions alleging Experian Information Solutions Inc. and two other credit reporting services inaccurately listed discharged debts on reports, ruling that incentive awards to some named plaintiffs cheated the absentees in the 15 million–member class.

The three-judge panel said the settlement agreement with Experian, TransUnion LLC and Equifax Information Services LLC provided a $5,000 "incentive award" to named plaintiffs who supported the settlement, but not to ones who didn't. According to the panel,...
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