Shortly after Sprint beat a class action challening early cancellation fees, Verizon settles similar class action for $21 million

On June 12, 2008, The Complex Litigator reported that Sprint avoided liability after a California jury ruled in its favor in a trial involving the contentious issue of early termination fees (ETFs) in wireless service contracts.  At that time, other carriers set for trial on the same issue were believed to be watching the Sprint trial as an indicator of how their trials might resolve.  But, in a surprising twist, Verizon has apparently settled the class action suit it was facing after the start of its trial last week.  The settlement is described as having a value of $21 million dollars, although there is no immediate information about the terms of that settlement (i.e., whether it contains a "claims-made" component, or other provision that would impact Verizon's realized cost from the settlement).  Verizon spokesman Jim Gerace is reported to have said, "This suit was a distraction. This was a quick way to resolve it."

[Via Wireless and Mobile News.]