Remember the Yahoo! click fraud settlement that took place last year where Yahoo! got away with a mere $4.95 million to plaintiffs counsel in cash as part of the settlement.
Yahoo! has to pay $4.95 million to plaintiffs' counsel in cash as part of the settlement. There is also a provision which allows advertisers to file a claim for investigation of potentially fraudulent clicks back through January 2004. If the claim holds and fraudulent clicks has been billed, then Yahoo! will refund advertisers.
News.com has reported that a federal judge in California has given the final nod to the click fraud settlement.
A federal judge in San Jose, Calif., has given final approval to a settlement in a class action lawsuit over click fraud that requires Yahoo to pay nearly $5 million in attorney fees and give full credits to advertisers dating back to 2004.
The settlement agreement was given preliminary approval by the court last summer. However, attorneys involved in a class action suit over click fraud in Arkansas contested the settlement arguing that Yahoo was not responding to the Arkansas lawsuit in good faith when it was settling the case in California. The California settlement releases Yahoo from all similar click fraud claims against it in other actions, including the Arkansas litigation.
The "final approval of the settlement validates the strength of Yahoo's click-through protection systems, and our commitment to delivering a quality experience to both our advertisers and our consumers," said Reggie Davis, Yahoo's new vice president of marketplace quality. "Our commitment does not stop here. Quality is a top priority for Yahoo, and we have a clear road map for how we're going to create the highest-quality search-advertising network in the industry."
This definitely is a good news for Yahoo!'s newly appointed Reggie Davis for the post of Vice President of Marketplace Quality aka 'click fraud czar'.