Helio was gobbled up by Virgin Mobile back in 2008 for the sum of about $39 million adding the 170,000 Helio users to the Virgin Mobile family. Helio has been fighting a class action suit having to do with early termination fees brought against some of its customers.
Any current or former customer of Helio that was with Helio at any time prior to October 4, 2010 are eligible to participate in the class. Helio has set aside $950,000 to fund the settlement with the class that was approved preliminarily on September 20, 2010.
The settlement entitles any one on the Helio service, whether they paid an ETF or not to receive money, as long as their contract had an ETF provision in it. The settlement provides $10 cash to each customer or a refund equal to the flat-rate ETF and the prorated amount they would have paid if the ETF had a pro-rated provision.