Outcome: $15 Million settlement
In re: Higher One Account Marketing and Sales Practices Litigation, No. 3:12-md-02407 (VLB), U.S.D.C. District of Connecticut
Higher One Holdings, Inc. has agreed to a $15,000,000 settlement fund in response to allegations of unfair and deceptive practices. The settlement benefits individuals who opened a OneAccount with Higher One between July 1, 2006, and August 2, 2012 (the “Class Period”) and incurred fees during this time.
Several class action lawsuits against the bank were consolidated into a multi-district litigation (MDL), and TZ was appointed lead counsel. After rigorous negotiations and three mediations that were described as “contentious and hard-fought,” an agreement was reached that not only includes the monetary relief to class members but also significant marketing policy changes enacted by Higher One.