TICKETMASTER: Refund Windfall Update!

Starting April 15th, 2012, all Ticketmaster customers for the past 12 years, October 21, 1999 through October 19, 2011, will be receiving a refund if they used Tickermaster's website to buy tickets; according to "Business Insider" by Kevin Lincoln [http://finance.yahoo.com/news/everyone-used-tickermaster-last-12-190940783.html].

It is believed that the proposed refund windfall will be about $1.50 per ticket order over the website, because of a class action lawsuit filed against Ticketmaster in 2003.

Ticketmaster is being forced to credit $1.50 per ticket order (up to 17 orders) to customers due to the fact that they profited off of "processing fees" without declaring as much.

And despite the reparations, Ticketmaster can continue to profit off transactions — they just have to say they're doing so on their website.

According to court documents, the original claim, filed October 21, 2003, also implicates UPS' delivery price for expedited delivery of tickets as deceptive. Those part of the UPS subclass of the suit are entitled to an additional $5.00 credit per ticket. Both credits are in the form of vouchers, which can be redeemed a maximum of two at a time.

This could end up costing Ticketmaster a hefty amount of money. If, in any given year over the four-year redemption period, less than $11.25 million is redeemed by customers, Ticketmaster is going to donate the remainder to charity.

These Ticketmaster (and UPS) refund credits are expected to be issued within 30 days after Final Approval of the class action settlement, which is currently scheduled for May 29, 2012.