5th May 2016 08:17
LONDON (Alliance News) - Billing Services Group Ltd Thursday said it has reached a settlement with the Federal Trade Commission on litigation related to a business in which it has "not been involved since 2012", it said.
Under the settlement it will pay a total of USD5.2 million for customer redress in ten equal quarterly instalments, it said, among other commitments. In return the FTC has agreed to release Billing Services Group from all claims related to enhanced services billing.
The settlement is pending court approval, Billing Services Group said.
Shares in Billing Services Group were up 8.6% at 4.75 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
BILL.L