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    Nike offers partial refund to end FuelBand lawsuit

    By SHOOTUpdated:No Comments1000 Views
    Fuelbands
    NEW YORK (AP) --

    Nike will give partial refunds or gift cards to people who bought FuelBand fitness trackers in the last 3 1/2 years, resolving a lawsuit that says the products can't accurately tally how many steps a user is taking or how many calories they've burned.

    A website maintained by Gilardi & Co., a firm that administers settlements, says Nike Inc. will give $15 payments or $25 gift cards to people who bought FuelBands between Jan. 19, 2012 and June 17, 2015.

    Nike and collaborator Apple deny the allegations in the lawsuit but agreed to settle to avoid a continued legal tussle, according to court documents.

    Nike launched the FuelBand in 2012. It's a wrist band that tracks movement and translates it into what Nike calls "Fuel." Users can set daily goals for how much movement that they want to achieve. The band can connect wirelessly to a smartphone app and its features include a pedometer and a clock. Nike hasn't disclosed sales figures. Last year, it laid off some employees who worked on the devices but said it would continue to make them.

    The lawsuit said the companies engaged in false advertising because they knew the devices could not track steps, calories or NikeFuel as accurately as they claimed. The lawsuit also alleged breaches of the terms of the devices' warranty.

    Apple Inc. and Nike did not immediately respond to a request for comment.

    Tags:AppleFuelbandNike



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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