Yahoo! Inc. announced it has reached a settlement agreement with Checkmate Strategic Group, will consider refunding money to advertisers dating back to January 2004 and plans pay $4.95 million in attorney fees to settle a class action. J, R' V3 `2 e! o% Q' t5 ]
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Checkmate Strategic Group filed a lawsuit alleging that Yahoo has been profiting from bogus sales referrals generated through click fraud.
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Yahoo's ad revenue totaled $9.1 billion from January 2004 through March of this year, the Associated Press reported.* U" `' ~( l% T, Y
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The AP also noted that some studies have estimated that Yahoo's click fraud rate is 30 percent, a number which Yahoo has disputed. ! d1 B9 C5 Q! B" E+ y
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To address the click fraud concern, Yahoo has initiated a claims system.
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/ |, M& H( T" C7 b6 A"Yahoo will offer advertisers a one-time extended claims period during which advertisers can submit click fraud claims for clicks dating back through January 2004. If our investigation determines that a credit is due that was not given previously, we will issue a 100 percent credit, which can be used however the advertiser wishes to use it. This claims process will be overseen by a retired Federal judge," according to a Yahoo company statement.
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) g- v( e0 n, W+ ^In March 2006, Yahoo competitor Google agreed to pay $90 million to settle a lawsuit alleging the company, along with other web search companies, billed advertisers for false customer leads. |
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