Latest news with #TracFone
CNET
11-07-2025
- Business
- CNET
This TracFone Settlement Will Pay Over $53K to Some People, but You'll Have to Apply Soon
This deep into the age of smartphones, I'd bet that a lot of you out there haven't thought about TracFone in a while. But a good number of folks still get wireless service through it, and they ought to know about the impending settlement payments coming from the company. TracFone is currently accepting applications for a class action lawsuit settlement after it was accused of failing to prevent a major data breach several years ago. While the total amount the company is set to pay out isn't known, the potential payout to impacted customers could be huge, depending on the damages they suffered. Founded nearly 30 years ago, TracFone is a mobile virtual network operator, or MVNO. It's best known for offering cheaper, prepaid and no-contract mobile phone service -- catering to folks who don't need or want contract service and who prefer to pay as they go. TracFone piggybacks off the network operated by Verizon, TracFone's parent company since 2021. In addition to services under its own name, you might also be familiar with TracFone's offerings under a few other popular brand names: Straight Talk Wireless, Total Wireless, Simple Mobile, SafeLink Wireless, Net10 Wireless and Walmart Family Mobile. At the time it was acquired by Verizon, the company boasted 21 million users and a presence in 90,000 retail stores, though those numbers have dwindled since then. For everything you need to know about the TracFone settlement, keep reading. And for more settlement news, here's everything you need to know about AT&T's $177 million settlement. Why was TracFone sued? This settlement from TracFone came in response to a class action lawsuit filed against the company after a December 2021 data breach exposed the personal data of its customers. The plaintiffs in the case argued that the company failed to provide cybersecurity measures that would've prevented the breach While TracFone has agreed to pay a settlement, it has not admitted to any wrongdoing in this case. Who qualifies for the TracFone settlement? The settlement is open to any customer of TracFone, or one of its above-mentioned brands, who resides in the US and can verify damages suffered as a result of the breach. In order to do that and get paid, you'll need to provide materials proving the authenticity of your claims, such as receipts, bank statements, invoices, phone bills, credit reports, police reports or identity theft reports. If you think you're eligible for the TracFone settlement and can back it up with documentation, you can submit your claim on the official settlement website. How long do I have to join the TracFone settlement? Settlement applications are open through Aug. 7, so you have little less than a month to join the settlement. How much can I get paid from the TracFone settlement? That's going to be dependent on the damages you suffered and can verify, but the upper limits are pretty generous. For simpler out-of-pocket expenses, you can get up $3,250. These include costs like bank fees, mail costs, gasoline purchases, credit reports fees and insurance taken out between Nov. 15, 2021, and Aug. 7, 2025. You can also claim up to 15 hours of lost time due to the fallout of the data breach, at $30 an hour. For "extraordinary" expenses resulting from the breach, you can claim up to $50,000 in damages. This can include things like verifiable losses caused by identity theft or loss of business opportunities. TracFone will also provide class members with identity theft insurance worth up to $1 million. When will I get paid from the TracFone settlement? That's still up in the air, but you can expect it to be sometime in the fall at the earliest. In order for payments to go out, the final approval hearing, set for Sept. 16, still needs to be held. A clearer picture of the payment schedule should be available by then. For more settlement news, find out if you're eligible for GameStop's Facebook privacy settlement payments.
USA Today
05-07-2025
- Business
- USA Today
Verizon expands discounts for military members with short-term suspension plan
Verizon is hoping to make things easier on military families when duty calls. The wireless carrier announced a new short-term suspension benefit for military families when the active duty or reservist member are on short assignments. It allows families to suspend the line for up to 90 days and pay only $10 per month in that timeframe. This is just another addition to Verizon's dedication to their military customers. The long term suspension plan is still available, for deployments over 90 days and up to three years, where customers pay nothing for the suspended line. It's just one way that Verizon is serving the unique needs of military families. MORE MILITARY DISCOUNTS: Shopping guide: Exclusive military discounts on streaming, clothing, appliances Here's more about Verizon's military discount and offers: Verizon Military Discount Military, veterans and their families get great deals on mobile, internet or bundles with extra savings at Verizon Wireless. As a military spouse, I know first-hand that we can't control certain aspects of our lives, like when the military will call my partner away. But, one thing that helps is knowing what we can control. That's why Verizon's short-term suspension option is so important. It is one way to take something off your plate while your service member is away. Military customers deployed for less than 90 days, even within Verizon's coverage area, can now take advantage of Verizon's new Military Short Term Suspend option. During deployment, the customer's line will be temporarily suspended and charged $10/month or their monthly service price, whichever is lower. Long-term suspension options remain available for eligible customers on deployment from 90 days to 3 years, allowing them to avoid charges for services and features on the suspended line, including device payment installments, for the entire duration of the service suspension. Verizon offers additional discounts for military. Here's a breakdown of other offers: Join Verizon Wireless today TracFone by Verizon Wireless also offers a military discount Tracfone, a prepaid brand on the Verizon Wireless network, is proud to support veterans and active-duty personnel customers with 10% off all $20/month or higher Unlimited Talk and Text Plans. Veterans and active-duty personnel can easily verify their eligibility through secure making it simple to start saving. How to verify your military affiliation using Most brands use a third-party to confirm your military affiliation, like which is a secure sites. You will need your military Common Access Card for this, so be sure to have it handy. Here is how to verify your military affiliation and receive your discount: Keep in mind, some websites may use a different website, but is one of the most common. Some sites will ask that you register for a one-time discount code and ask you to verify in other ways. Some discounts may not be available to spouses either, only the active duty, reservist or veteran member.
Yahoo
18-06-2025
- Business
- Yahoo
5 Revealing Analyst Questions From Verizon's Q1 Earnings Call
Verizon's first quarter results met Wall Street's revenue expectations, with adjusted earnings per share exceeding consensus estimates. Management attributed this performance to the success of recent pricing actions, ongoing broadband growth, and disciplined cost control across the business. CEO Hans Vestberg highlighted the company's portfolio of targeted customer offerings, including myPlan and myHome, and noted positive momentum in gross additions toward the end of the quarter. The prepaid segment, in particular, achieved its best results since the TracFone acquisition, driven by revamped value propositions and expanded distribution. While higher churn was acknowledged—primarily among cohorts impacted by recent price increases—management described this as transitory and linked to specific pricing adjustments made earlier in the year. Is now the time to buy VZ? Find out in our full research report (it's free). Revenue: $33.49 billion vs analyst estimates of $33.33 billion (1.5% year-on-year growth, in line) Adjusted EPS: $1.19 vs analyst estimates of $1.15 (3.6% beat) Adjusted EBITDA: $12.56 billion vs analyst estimates of $12.34 billion (37.5% margin, 1.7% beat) Operating Margin: 23.8%, up from 22.8% in the same quarter last year Market Capitalization: $176.5 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. John Hodulik (UBS) asked about the impact of tariffs on equipment and handsets. CEO Hans Vestberg explained that tariff exposure is limited on capital spending, and any significant handset tariff increases would likely be passed to consumers rather than absorbed by Verizon. Ben Swinburne (Morgan Stanley) questioned whether the improvement in gross additions was due to specific promotions or market share gains. Sowmyanarayan Sampath, Consumer Group CEO, attributed the momentum to the Verizon Value Guarantee offer, noting double-digit growth in April gross adds. Jim Schneider (Goldman Sachs) inquired about changes in consumer behavior and the sustainability of business margins. Sampath reported continued demand for premium plans, while CFO Tony Skiadas highlighted structural cost improvements and stable payment trends. Michael Rollins (Citi) asked about postpaid phone industry growth and the impact of immigration policy. Sampath stated that Verizon is performing well even as much of market growth is driven by prepaid-to-postpaid migration, a segment where Verizon participates primarily through partners. Peter Supino (Wolfe Research) asked how the company's multi-year fixed wireless access expansion could pressure capital expenditures. Vestberg responded that the rollout is incorporated into existing plans and should not create additional pressure through 2028. Looking ahead, the StockStory team will be monitoring (1) adoption and retention trends following the rollout of the three-year price lock and free phone guarantee; (2) progress on the integration and broadband expansion linked to the pending Frontier acquisition; and (3) continued improvements in prepaid and converged customer segments. Execution on operational efficiency and network investments will also play a critical role in shaping future performance. Verizon currently trades at $41.94, down from $42.93 just before the earnings. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Hindustan Times
24-05-2025
- Business
- Hindustan Times
Verizon seeks FCC approval to lock phones for 6 months: Here's what you need to know
Verizon may soon make it harder for customers to switch carriers or unlock their phones early. The company is reportedly seeking approval from the Federal Communications Commission (FCC) and the Trump administration to extend its device lock period from the current 60 days to six months. If approved, the change would align Verizon with AT&T's policy and further tighten restrictions compared to competitors like T-Mobile, which already enforces a 12-month lock on prepaid devices. Also Read: What time is Jones Beach Air Show? A look at performance lineup and how and where to watch grand event Verizon argues that extending the lock period is necessary to deter phone theft and fraud, which ultimately harms teh customers. The company's petition stated, 'The Unlocking Rule applies only to particular providers—mainly Verizon—and distorts the marketplace in a critical US industry." It further read, 'he rule has resulted in unintended consequences that harm consumers, competition, and Verizon, while propping up international criminal organizations that profit from fraud, including device trafficking of subsidized devices from the United States. These bad actors target and harm American consumers and US carriers like Verizon for their own profit, by diverting unlocked trafficked devices to consumers in foreign countries,' as reported by Tom's Guide. Verizon also argued that after the purchase of TracFone, a 'sharp increase" was observed in the number of TracFone devices being deactivated before customers had completed the payments needed to cover the subsidized cost of the phones. Also Read: What restaurants are open on Memorial Day 2025? McDonald's, Chick-fil-A, Starbucks, and more Interestingly, Verizon's push marks a shift in direction for the smartphone industry, as the FCC under President Biden had previously considered a proposal to standardize the unlock period across all carriers at 60 days. However, that will not be happening as highlighted by Ars Technica since the new FCC chairman Brendan Carr is focused on deregulation. The news might come as a huge disappointment to Verizon consumers, especially because the company was a favourite mainly because of its shorter unlock window.
Tom's Guide
23-05-2025
- Business
- Tom's Guide
Verizon wants to keep your phone locked for 6 months — here's why
Verizon is looking to keep its devices locked to its plans for longer, meaning you may have to wait months before you can unlock or transfer your device. According to a recent report from Ars Technica, Verizon is currently petitioning the Federal Communications Commission (FCC) and the Trump administration to allow it to lock phones for a total of six months. At the time of writing, Verizon only requires customers to keep the phone locked for 60 days. If this petition goes through, it will put the company on par with AT&T's six-month period. Although both carriers don't ask nearly as much as T-Mobile, which keeps prepaid phones carrier-locked for 12-months. Verizon's offering of 60 days before customers can unlock their phones results from two different rules the company agreed upon. The first came about when it purchased the licenses to use the 700 MHz spectrum back in 2008, which came with open access requirements. The second rule was part of the merger conditions that allowed Verizon to get approval to purchase TracFone back in 2021. The reason for this is due, in Verizon's words, to unlocking phones encouraging theft while also being bad for customers. According to Verizon's petition, "The Unlocking Rule applies only to particular providers—mainly Verizon—and distorts the marketplace in a critical US industry." It then goes on to state that, "The rule has resulted in unintended consequences that harm consumers, competition, and Verizon, while propping up international criminal organizations that profit from fraud, including device trafficking of subsidized devices from the United States. These bad actors target and harm American consumers and US carriers like Verizon for their own profit, by diverting unlocked trafficked devices to consumers in foreign countries." The company has stated that, after purchasing TracFone, there was a "sharp increase" in the number of TracFone devices that were deactivated before the customers had made the necessary payments for Verizon to subsidize the device. Get instant access to breaking news, the hottest reviews, great deals and helpful tips. Interestingly, this is something of a shift in the smartphone market as, under Biden, the FCC was considering a proposal for all carriers to set their unlock period at 60 days. However, as Ars Technica notes, that likely won't be happening thanks to the new FCC chairman Brendan Carr's focus on deregulation. For many, this might be a big turn-off, especially as the shorter unlock window made Verizon very appealing. If this news, alongside the recent Verizon outage, has made you consider moving to a new company, then we have a full breakdown of the best carriers at the moment that could help you find the right option for some of the best phones.
