Two courts in North Carolina have signed off on a combined $8 million class action settlement, closing years of litigation over claims that customers were charged excessive fees on rent-to-own contracts for storage sheds.
The related cases, filed in federal and state court, accused Carolina Lease Management Group LLC and affiliated companies of structuring “lease” agreements that functioned like credit sales with finance charges that exceeded limits set by state law.
Final judgments were entered this week, bringing the dispute to an end.
Federal and State Cases Ran in Parallel
The federal case, handled in the U.S. District Court for the Eastern District of North Carolina, covered one group of customers. A separate action in Jones County Superior Court addressed an earlier group.
Court records show the two class periods did not overlap. Together, the cases covered more than 11,000 consumers.
The lawsuits alleged violations of North Carolina’s Retail Installment Sales Act, as well as claims under the state’s unfair trade practices and debt collection statutes.
