A proposed injunctive-relief settlement that would have resolved allegations that PayPal Inc. places holds on sellers’ accounts without notice or justification was quashed Feb. 24 after the U.S. District Court for the Northern District of California found the broad release of liability for class members “troubling” (Zepeda v. PayPal, Inc., N.D. Cal., No.4:10-cv-02500).
The proposed settlement required PayPal to implement certain business practices to provide more information about holds on accounts in some circumstances.
PayPal also would have created a $1,425,000 settlement fund that provided up to $500,000 in attorneys’ fees, up to $250,000 in administrative costs, ...
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