Discover Financial Services Reaches Settlement to Resolve Misclassification Lawsuit

Friday, 5 July 2024, 14:48

Discover Financial Services has settled a class-action lawsuit related to merchant overcharging, leading to a significant increase in their liability. The settlement amount stands at $1.2 billion as of March 31, 2024, marking a crucial development in the ongoing legal proceedings. This resolution reflects the company's commitment to addressing legal challenges and its financial responsibility in the matter.

Seeking Alpha — Discover Financial Services Reaches Settlement to Resolve Misclassification Lawsuit

Discover Financial Services Settlement

Discover Financial Services has reached a settlement in a class-action lawsuit concerning misclassification issues.

Increased Liability

The settlement has resulted in a notable increase in the company's liability, now amounting to $1.2 billion as of March 31, 2024.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.