Huge Class Action Lawsuit Launched Against Major Company
Have you recently found yourself paying more than expected for a product purchased online?
People who use a very popular financial service in Mississauga and beyond might want to note that a class action lawsuit was recently launched against the company in regards to fees associated with transactions made in non-Canadian currencies.
Paliare Roland Rosenberg Rothstein LLP recently announced that the lawsuit in question targets PayPal Canada and associated companies. According to a statement released by the firm, the proposed class action was brought by Leonid Kaplan on behalf of all Canadian-resident PayPal users.
As for what's driving the lawsuit, the claim was reportedly made in regards to charges levied by PayPal on foreign exchange transactions.
The claim alleges that PayPal charges Canadian-resident users undisclosed currency conversion fees in the following instances:
- When they purchase goods and services using PayPal in a currency other than the one in which those goods and services are offered for sale.
- When they withdraw foreign currency from their PayPal accounts, and, further, that such conversions are unauthorized and are not required.
The claim alleges that PayPal "fails to allow users to designate their credit cards to perform currency conversions during online checkout and instead performs the conversions itself to generate fees"—something that's apparently contrary to PayPal’s standard form user agreement.
We'll keep you updated on more details as they emerge.
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