What is the lawsuit about?
Plaintiffs claim that the Broadcaster Defendants engaged in a conspiracy to fix, raise, maintain, or stabilize the price levels of broadcast television spot advertising. Plaintiffs further claim that Cox Reps, Inc. and Katz Media Group, Inc., operating as “Sales Rep Firms,” as well as ShareBuilders, facilitated the exchange of communication between the Broadcaster Defendants. Plaintiffs further claim that they were injured as a result of an alleged conspiracy between the Sales Rep Firms, Broadcaster Defendants and ShareBuilders’ (collectively, “Defendants”) through the payment of artificially inflated prices.
Settling Defendants deny these allegations and all alleged wrongdoing associated with Plaintiffs’ claims. The Court previously dismissed ShareBuilders from the lawsuit, but has not otherwise decided who is right or wrong. Instead, the settling parties have agreed to these Settlements to avoid the risk, cost, and inconvenience of further litigation.
Plaintiffs’ case is still proceeding against other non-Settling Defendants, who deny all wrongdoing. Those non-Settling Defendants may be subject to separate settlement, judgments, or class certification orders, or may succeed in their defenses. If applicable, you will receive a separate notice regarding the progress of the litigation and any resolution of claims against the non-Settling Defendants.
Who is included?
Each of the four Settlement Classes consist of the same members (“Settlement Class Members”): all persons and entities in the United States who purchased Broadcast Television Spot Advertising directly from one or more Broadcaster Defendants in a designated market area (“DMA”) within which two or more of the Broadcaster Defendants sold broadcast television spot advertisements on broadcast television stations, including anyone who directly paid one or more Defendants for all or a portion of the cost of such broadcast television spot advertisements from January 1, 2014 to and including December 31, 2018 (the “Class Period”). For more information, please see FAQ 5.
What does the Settlement provide?
If the Settlements are approved by the Court, the Cox Entities will pay $37,000,000, Fox will pay $6,000,000, and CBS will pay $5,000,000 (collectively $48,000,000) for payments to Settlement Classes, along with cooperation to prosecute this case against the remaining defendants. In addition, ShareBuilders will provide the Plaintiffs with valuable cooperation. Settlement Class Members who timely submit a valid claim will receive payments, after deducting costs associated with Settlement administration and notice, taxes, class representative incentive awards, attorneys’ fees (not to exceed 33.33% of the Settlements), and reimbursement for certain litigation costs and expenses (not to exceed $6,000,000).