CORRECTED: LivingSocial Will Pay $7.5M To Exit Gift Certificate Suit

Law360, New York (October 22, 2012, 7:30 PM EDT) -- Daily deals site LivingSocial agreed Friday to settle for $7.5 million a consolidated class action in Washington accusing it of breaking consumer protection laws that state gift certificates can't expire for at least five years after they're sold.

Under the settlement terms, LivingSocial will also change the way it issues vouchers for the deals it offers. Voucher expiration dates must be at least five years from the date of purchase, in accordance with the Credit Card Accountability Responsibility and Disclosure Act of 2009, or must follow...
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