A popular furniture store has agreed to pay over $24 million to settle allegations.
IKEA customers are upset that the store is putting them at increased risk of identity theft after giving out their debit and credit card numbers on printed receipts.
The settlement aims to clear up claims that the Swedish giant broke the Fair and Accurate Credit Transactions Act (FACTA).
It received preliminary court approval on March 11, 2022 but awaits final approval.
A hearing is scheduled for July 28 in Chicago, and consumers can expect to receive payments after final approval.
Consumers have until May 4, 2023 to file their claims to recover $24,250,000.
Although IKEA has agreed to pay $24 million, this only applies to customers who have purchased products in a specific period.
Anyone who made a purchase between October 18, 2017 and December 31, 2019 is eligible to make a claim.
Purchase must have been made from an IKEA retail store in the United States.
In addition, they must have used a credit or debit card and received a printed receipt showing the first six and last four digits of the card.
APPLY FOR COMPENSATION FUND
There are various ways in which consumers can apply for the equalization fund.
If you have a class ID number, claim forms can be mailed to the following address:
- Richardson v IKEA Claims Administrator, PO Box 6175, Novato, CA 94948-6175
You can also call 1-855-958-6213 or visit the website for more information on the application process.
HOW MUCH DO THEY GET
The final payment amount depends on the total number of valid and timely claims.
However, plaintiffs estimate that between $30 and $60 will be reimbursed to consumers.
Any money remaining in the fund will flow back to IKEA.
OTHER SETTLEMENT FUNDS
IKEA isn’t the only company that needs to spend some money.
In August 2022, American Airlines reached an agreement to pay at least $7.5 million to settle a lawsuit.
The airline has been accused of charging unfair checked baggage fees.
The case is called Cleary v American Airlines, Inc and alleges that American Airlines incorrectly charged some customers for baggage fees.
The first group is for travelers with an American Airlines-branded credit card who receive complimentary bag checking privileges but were charged on a domestic flight.
The second group is for travelers who received a confirmation email that their luggage was checked for free, but still had to pay.
Customers must have traveled on or after February 23, 2017.
See what other March deadlines there are to claim the money.
The Americans will also receive $350 in bailout checks from a $2.1 million pot.
https://www.the-sun.com/money/7662374/ikea-settlement-fund-sue-lawsuit/ Major retailer will pay customers back from $24 million settlement fund – check if you’re eligible