In addition, the firm has agreed to write off all outstanding balances on accounts affected by this practice; and write off or refund interest and fees added to customers' accounts after the point at which the firm should have provided customers with an annual statement.
Earlier in the proceedings, the county itself estimated that the refunds, plus interest, could reach $200 million.
Google will offer full refunds, plus interest, to anyone who bought shares in that period.
His proposal would require immediate payments, with refunds and interest if an appeal succeeded.
The Securities and Exchange Commission, in a lawsuit filed in a New York federal court, sought more than $1 million in refunds and interest from the defendants as well as unspecified fines.
Early decisions would help keep cases out of court, where they can take up to a decade to decide -- with refunds accruing interest penalties at a hefty 9percentt a year.
The company made the right early moves by admitting the problem and promising refunds, plus interest, to customers.
To SnapNames' credit, they have now fessed up to the scam, and have offered full refunds (with interest) to anyone affected.
The Fed refunds its interest earnings to the Treasury every year.
If the plaintiffs prevail, they are entitled to refunds plus interest, said Tim Blood, an attorney in one of the cases.
On June 29, the SEC issued an order that required KKR to pay nearly $30 million, including refunds with interest to investors and a $10 million penalty.
