A New York federal judge has dismissed allegations of fraud against Dow Jones & Co. Inc., closing the book on a proposed class action that accused the company, along with The New York Times Co. and Forbes Inc., of allowing a subscription business to defraud their customers by overcharging for renewals and pocketing the difference.
In a Sept. 24 order, U.S. District Judge Jed Rakoff of the Southern District of New York dismissed claims by plaintiff Stephen Rabin that Dow Jones looked the other way as Circulation Billing Services sent out official-looking “renewal notices” that quoted prices higher than the real rate, paying the publishers the correct amount while keeping the excess for itself.
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