NEW YORK, April 28, 2005 (PRIMEZONE) -- Seeger Weiss LLP, a nationally recognized complex class action law firm, announced that yesterday it filed an Amended Complaint in the U.S. District Court for the Southern District of New York against Dell, Inc. ("Dell") (NASDAQ:DELL), Dell Financial Services L.P. ("DFS") and CIT Bank, Inc. ("CIT"). The Amended Complaint was filed on behalf of consumers who financed the purchase of Dell electronics through DFS and/or purchased Dell products but allegedly received costlier or substandard versions of the advertised products. A copy of the Amended Complaint filed in this action is available from the Court or by contacting counsel below.
The Amended Complaint alleges a new claim that Dell engages in a practice of advertising low-priced products but, when consumers call to purchase these advertised products, Dell steers them to purchasing costlier products, tells them that the advertised products will not meet their needs, charges consumers more than they are quoted or ships consumers products with lesser quality components than they ordered. The Amended Complaint alleges that Dell's sales practices violate the consumer protection laws for all fifty states and the District of Columbia and further seeks to certify a nationwide sales class of the injured consumers.
The Amended Complaint further alleges that defendants lure consumers to call Dell by advertising illusory offers of 0% or low interest financing. When the consumers agree to finance their purchases with defendants, they are allegedly misled to believe that they qualified for the promotional rates. Only when consumers receive their finance statements do they allegedly learn that they did not qualify for the promotional financing. By then, however, the consumers are trapped into defendants' financing, which is laden with hidden fees, late charges and excessive interest rates. The Amended Complaint seeks to certify a second class consisting of consumers who were victims of the defendants' alleged bait and switch financing scheme.
The Amended Complaint also alleges that defendants had a duty under federal law to disclose the terms of financing to consumers before placing them into defendants' financing plans. Defendants allegedly do not disclose the applicable financing rates, late penalties and other material terms of the financing agreements at the time the consumers enter into the agreements. The Amended Complaint seeks to certify a third class that includes all consumers who financed a Dell purchase and were assessed late fees, charges or interest without defendants disclosing the material terms of the financing agreements.
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