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Ticketmaster to refund ticket buyers

on December 02, 2011, 5:51pm

ticketmaster Ticketmaster to refund ticket buyers

To anyone who feels they’ve ever overpaid for concert tickets though Ticketmaster, expect a check in the mail next year. As part of a proposed class action settlement that claims Ticketmaster profited from processing fees, the ticket website is asked to refund $1.50 per order (up to 17 separate orders) for tickets purchased between October 21st, 1999 and October 19th, 2011, according to Billboard. The claim, filed back in October 2003, also indicates that UPS’ price for expedited delivery wasn’t competitive; ticket orders which fall under the UPS clause would receive a $5 credit per ticket.

Despite the financial benefits these payments may offer concertgoers, the settlement wouldn’t prevent future profit-gouging by Ticketmaster, only forcing the corporate giant to indicate somewhere online of any profiting potential. Even still, the decision could cost Ticketmaster millions, with an addendum indicating that if a yearly amount over the four-year redemption period is less than $11.25 million, Ticketmaster would have to donate the rest to charity. Attorneys for the claim are also seeking $16.5 million in attorneys’ fees and expenses, plus $20,000 for the two plaintiffs who originally filed.

Credits wouldn’t be issued before April 15th, 2012, and should come within 30 days of the Final Approval of the settlement (which is now set for May 29th, 2012). For more information on the settlement, click here.