The latest in Sprint’s downward spiral to oblivion is the conclusion of a class-action lawsuit which ruled that contract early termination fees did not count as rates, and therefor fell under federal, rather than California state law. Using such ETFs as a means to discourage jumping ship is illegal under federal law, and so $18.23 million was rewarded to those who were forced to pay up. On top of that, they’ve got $54.75 million in unpaid ETFs that will be recredited. Ow. Tough break there, Sprint. Some appeals are likely to happen, but things aren’t looking so hot right now.
