Kevin Maher

About Kevin Maher

Follow Kevin Maher

Class Action: Cash or Credit?

Debit Card, by Flickr user Neil T, Licensed by Creative Commons.

Pick a card, any card

Visa and Mastercard are just two companies ordered to pay over $900m in the latest from a class action lawsuit. Other defendants include JP Morgan Chase, Bank of America, and Citigroup. Much of the settlement and disagreement was around card-swiping fees, ie the banks were over-charging for uses of credit and debit cards, everywhere from major retail stores to smaller mom-and-pop shops. In this iteration of the settlement, Visa will pay an additional $600m, Mastercard will pay another $108m, and the other banks will make up the rest, totaling $900m. That amount is to be added on to the remainder of the lawsuit, which now exceeds $6b. The lawsuit was filed in a U.S. Eastern District Court of New York.

Read more

Things Get Stranger: Man Sues Netflix

Thunderstorm, by flickr user Thomas Bresson, licensed by Creative Commons.

There’s a storm coming

Netflix has had tons of success in the last few years, rising from the ashes to become a technology powerhouse. The business model is a low cost, subscription-based service providing content to consumers who love their tv shows and movies. One of the most successful pieces of original content is the Netflix-original Stranger Things, a sci-fi / fantasy series about kids in the 1980s who experience (you guessed it) “strange things”. Even stranger is that the now famous images used to promote the show, which an ominous thunderstorm system moving through the clouds, allegedly infringes on a Montana photographer’s copyright. As such, he is taking Netflix to court and seeking damages regarding this misuse of his image. Read more

Facebook Advertisers Call Foul

thumb thumbs up hand finger top tip, by pixabay user LoggaWiggler, licensed by Creative Commons.

Thumbs down

Another day, another Facebook lawsuit. This time around, the slings and arrows aimed at Mark Zuckerberg and co are from their advertisers, who claim that the Facebook ad platform misled them. The main point of contention is the “Potential Reach” number, an ambiguous total provided by Facebook to help agencies spend their money. Unfortunately, an astute advertiser noticed that the “Potential Reach” number for Facebook users between 18-34 actually exceeds the amount of people in that age group, in every state. This particular social media lawsuit was filed in the U.S. District Court in North California, and will likely bring in more plaintiffs. Read more

Fire Rises in Tinder Lawsuit

Flames, by flickr user William Warby, licensed by Creative Commons.

…And the flames went higher

These days, young people much prefer searching through their phone to meet people instead of actual face to face conversation. Technology has transformed the dating world, led by apps such as Tinder. Users can swipe right on anyone in their area they might be interested in meeting up with for a date. Valued at over $1.3B in 2015 with a ceiling of over $3B based of downloads and subscriptions, there is no doubt that Tinder was a home run for the co-founders. However, much like dating these days, there is not always smooth sailing. In a new lawsuit, the original co-founders are suing the current owners, claiming they inflated the valuation and seeking over $2B in damages. Read more

Investor Loses Crypto, Blames AT&T

bitcoin, by pixabay user MichaelWuensch, licensed by Creative Commons.

BTC & AT&T

The world of cryptocurrency has fallen from most of the headlines, but there are still several people out there with millions at stake. A US investor & entrepreneur is suing AT&T, his internet service provider, over a theft of his cryptocurrency. Michael Terpin is seeking $224M, the value of his crypto portfolio at the time. The lawsuit was filed in a Los Angeles court room and claims “digital identity theft” in an attempt to hold someone (or something) accountable for the loss of his tokens. Today, the cryptocurrency market cap is over $200B, led by main coins such as Bitcoin, Litecoin, Ripple, Ethereum, and Stellar. Read more