SquareTrade Gets Final Nod for Claims Underpayment Settlement

Allstate Corp. unit SquareTrade Inc. and product protection plan buyers who alleged it underpaid their claims secured a federal judge’s final approval for a class settlement providing monetary relief and new disclosures about the program.

Additionally, the plaintiffs’ attorneys were awarded their requested $1 million for fees and litigation costs on Wednesday by Chief Magistrate Judge Joseph C. Spero of the US District Court for the Northern District of California.

• Michael Shuman, Tommy Gonzales, and Kathleen Abbott alleged that SquareTrade shorted purchasers of warranty plans covering myriad products ranging from office chairs to electronics
• Examining the settlement for possible collusion ...