Billion

NFL Hit with $4.7 Billion Jury Verdict Over Sunday Ticket Pricing Conspiracy

by

Los Angeles — A federal jury recently ruled that the National Football League (NFL) must pay a hefty $4.7 billion to a class of sports enthusiasts who claim the league conspired with DirecTV and major networks to overcharge for its exclusive Sunday Ticket package. The compensation awarded may soar past $14 billion if the decision withstands appeals, owing to antitrust laws that allow tripling of the damages. Filed in 2015, the class-action suit includes more than 2.4 million residential subscribers and over 48,000 commercial entities such as bars and restaurants. While residential subscribers were awarded … Read more

Discover Financial Proposes $1.2 Billion Settlement Over Merchant Overcharge Claims Amid Major Acquisition Moves

by

CHICAGO — Discover Financial Services is reportedly in the process of settling a class-action lawsuit that accuses the firm of excessively charging merchants. This action was publicly disclosed through a filing with the Securities and Exchange Commission on Wednesday, detailing that as of March 31, 2024, Discover has allocated $1.2 billion for refunds due to the misclassification of certain card products. The company has confirmed that this amount should cover all necessary payments under the proposed settlement. Previously, during a July earnings call, the financial services company admitted to incorrectly categorizing some card accounts into … Read more

NFL Faces $4.7 Billion Payout After Jury Finds Sunday Ticket Pricing Scheme Anti-Competitive

by

Los Angeles, CA — In a landmark ruling, the NFL has been directed by a Los Angeles jury to pay approximately $4.7 billion in damages for breaching antitrust laws in connection with its DirecTV “Sunday Ticket” service. This decision arrived after allegations that the league had improperly collaborated with DirecTV and broadcast partners CBS and Fox, to inflate the service’s pricing. The unanimous conclusion by the jury, reached after around five hours of deliberations spread over two days, concluded the three-week trial featuring high-profile testimony from NFL Commissioner Roger Goodell and Cowboys owner Jerry Jones. … Read more

NFL Faces $4.7 Billion Blow: Jury Decides in Landmark ‘Sunday Ticket’ Antitrust Case

by

Los Angeles, CA — In a landmark decision, a federal jury has ordered the National Football League (NFL) to pay a whopping $4.7 billion in a class-action antitrust lawsuit centered around its “Sunday Ticket” package. This hefty sum, one of the largest antitrust penalties in recent U.S. history, comes after plaintiffs accused the NFL of monopolistic practices by limiting the broadcasting of out-of-market Sunday afternoon games exclusively to DirecTV’s “Sunday Ticket.” The jury found that the NFL’s exclusive deal with DirecTV violated federal antitrust laws, significantly inflating prices and restricting viewer options. According to the … Read more