Scammers flood US class action settlements with fraudulent claims [Reuters]
Altria Group, Inc. (MO)
Last altria group, inc. earnings: 4/30 07:00 am
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Source: Reuters
The company, which did not admit wrongdoing in the settlement, knew it sold roughly 875,000 such seats, yet court records show that by the end of October it had received more than 3.3 million claims for payment. Faced with a wave of questionable claims, Artsana reversed itself and urged the court not to approve the settlement it had negotiated to end the litigation. “Criminals targeted the claims process in this case using sophisticated methods to generate large numbers of fraudulent claims,” Artsana's attorneys told the federal court in Manhattan. The court sided with Artsana and put the settlement on hold, telling lawyers to return after they had sorted out the fraud issue. The case is still pending, so no claims have been paid, records show. Report this ad Fraudulent claims have exploded in the last year, siphoning money out of settlements and threatening the class action system itself, said lawyers and claims administrators interviewed by Reuters. More than 80 million
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MO
Earnings
- 4/25/24 - In-Line
MO
Sec Filings
- 5/6/24 - Form 4
- 5/2/24 - Form 144
- 5/2/24 - Form 144
- MO's page on the SEC website