International Payout Systems (i-Payout), TD Bank and Telecom Logic have reached a settlement with the ongoing TelexFree class-action.

Specific defendants that have settled are:

  • Telecom Logic
  • Ryan Mitchell (owner & President of Telecom Logic)
  • International Payout Systems (aka i-Payout)
  • Eddie Gonzales (President of i-Payout)
  • Natalia Yenatska (COO & Compliance Officer of i-Payout)
  • TD Bank, N.A.

Anthony Cellucci has been appointed Class Representative as per an October 3rd order by District Judge Hillman.

In the same order, District Judge Hillman set the following schedule:

  • the affected class must be notified by November 2nd, 2023;
  • the affected class has until December 7th to exclude themselves and/or object to the settlement;
  • settling Defendants have until January 2nd, 2024 if they wish to withdraw from the settlement;
  • a memorandum in support of final approval of the reached settlement is also due on January 2024; and
  • a fairness hearing for the settlement will be held on February 6th, 2024

Details of the reached settlement are expected to be made public in the January 2nd memorandum filing.