•March 16, 2016•

Nearly 32,000 residents are owed an estimated $2.7 million after they purchased a product or service from telecom giant Sprint but did not receive the rebate that incentivized the sale, treasurer Michael Frerichs charged in a lawsuit announced today.

Frerichs pursued the lawsuit after the telecommunications giant and its clearinghouse partner, Young America Corp. of Minnesota, kept the rebate money. The treasurer’s office has the ability to sue because rebates are considered unclaimed property if not paid within five years and must be surrendered to the state treasury. These purchases were made between 2003 and 2005.

“It is frustrating and wrong when these large companies with deep pockets and corporate attorneys break their promises, keep money that is not theirs, and dare people to file a lawsuit,” Frerichs said.     Login or Subscribe to read the rest of this story.