Russell Simmons has reached a settlement in the class action lawsuit filed against him by five RushCard holders.
On Friday (March 11), the plaintiffs filed court documents indicating they were finalizing the settlement in which Russell promises to pay each of those accusing him of wrongdoing. Once the deal is finalized, they say they will drop the lawsuit and all claims.
In October, thousands of people with RushCard were denied access to their funds for nearly two weeks. The subscribers were unable to pay for rent and food. Simmons said that the reason for the system being down was that the company was switching technological partners.
When the banking services became operative again, several users claimed that the amount of funds in their accounts was incorrect.
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