CITIBANK AMERICAN AIRLINES MILES PROMOTION CLASS ACTION

[sbgs]

This doesn't apply to me but thought it might apply to a lot of people here..
Citibank NA has agreed to pay $1.75 million to settle a class action lawsuit alleging it improperly reported the taxable value of customers’ promotional American Airlines miles to the Internal Revenue Service.

Class Members of the Citibank airline miles settlement include: “All persons or entities in the United States who received an IRS Form 1099 from Citibank as a result of opening a Citibank deposit account and receiving American Airline miles through Citibank promotions in which Citibank valued the American Airline miles at 2.5 cents per mile, during the period between January 1, 2009 and July 13, 2017.”
Potential Award
Up to $245.

Class Members may be eligible to receive a payment of up to 70 percent of the amount of income attributable to the receipt of American Airlines miles reported by Citibank on the Class Member’s IRS Form 1099 multiplied by the Class Member’s federal tax rate.

More info:
https://topclassactions.com/lawsuit-settlements/lawsuit-news/820985-citibank-american-airlines-miles-promotion-class-action-settlement/?utm_medium=email&utm_campaign=117%20First%20Send&utm_content=117%20First%20Send+CID_dd1e1d9bcf3ca46fdfcd880d238bc16c&utm_source=Campaign%20Monitor&utm_term=Citibank%20American%20Airlines%20Miles%20Promotion