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H&M reaches $36 mln settlement with New York over unused gift cards

Summary by Ground News
H&M will pay $36 million to settle accusations that the fashion retailer illegally kept millions of dollars in gift cards. The Swedish company, whose full name is H&M Hennes & Mauritz AB (HMb.ST), did not admit or deny wrongdoing. It did not immediately respond to a request for comment.
3 months ago

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Reuters

H&M reaches $36 mln settlement with New York over unused gift cards

NEW YORK -H&M will pay $36 million to settle accusations that the fashion retailer illegally kept millions of dollars in gift cards that customers never used, New York Attorney General Letitia James said on Thursday. The Swedish company, whose full name is H&M Hennes & Mauritz AB, will pay $28.26 million to the state and $7.74 million to a whistleblower, William French. James said H&M

3 months ago·United Kingdom
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CBS News

H&M to pay $36 million to settle claims over unused gift cards

Fashion retailer illegally kept million of dollars that belonged to customers, alleges New York attorney general.

3 months ago·New York, United States
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El Nuevo Día

H&M to pay $36 million for unused gift cards in New York

The State Prosecutor's Office alleged that the Swedish fashion firm lied to try to keep the millionaire sum

3 months ago·Puerto Rico
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WSTM

NYS AG recovers $36 million from H&M for unlawfully keeping millions in unused gift cards

New York State Attorney General Letitia James recovered $36 million from popular fashion retailer, H&M for unlawfully keeping millions of dollars in unused gift cards. According to the attorney general, for years H&M withheld unused balances on gift cards that should have been transferred to the Office of Unclaimed Funds, which is overseen by The Office of the New York State Comptroller Thomas DiNapoli.

3 months ago
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Reuters
El Nuevo Día
WSTM
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C 50%
R 25%
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