LivingSocial agreed to pay out $4.5 million in a class-action settlement last month to reimburse some customers for expired deals. As part of the settlement, LivingSocial is paying $3 million in attorneys’ fees and expenses to the law firms that represented the plaintiffs in the settlement. This whole ordeal stems from President Obama’s signing of the CARD Act in May 2009. The act, which was aimed at credit card companies, forbids gift cards from expiring within five years of their purchase. (Washington Business Journal)
Network
