Fifth Third Inks $1.8M Deal To Exit Fee Class Action
Law360, New York (September 21, 2015, 8:35 PM EDT) -- Fifth Third Bancorp. and a Columbus, Ohio, video production company asked an Ohio federal judge Monday to approve a $1.8 million settlement after nearly eight years of litigation over allegedly improper banking fees, a figure representing more than 90 percent of the damages and fees class members requested.
Arlington Video Productions Inc. claims that Fifth Third improperly charged bank fees against more than 10,000 business checking accounts belonging to it and other class members in breach of deposit agreements. Monday’s proposed settlement includes about $720,000 in attorneys’ fees for the plaintiff's counsel and $40,000 for litigation expenses.
“The litigation has resulted...
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