Ticketmaster to Issue Refunds to Customers Who Purchased Tickets Over Last 12 Years

Ticket buyers who used Ticketmaster between Oct. 21, 1999 and Oct. 19, 2011, expect a refund next year.

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In a proposed class action settlement, the ticket website is being asked to refund $1.50 for each ticket order -- up to 17 orders -- to customers because Ticketmaster profited off the dubious "processing fees," Business Insider reports.

This won't stop the website from profiting off the ticket orders; all Ticketmaster has to do is indicate on its website that they are doing so.

The original claim, filed Oct. 21, 2003, also says UPS' price for expedited delivery of tickets is not truthful. Customers who fall under the UPS part of the lawsuit will also receive a $5.00 credit for each ticket.

The settlement could cost Ticketmaster a large amount. If less than $11.25 million is redeemed by customers, Ticketmaster will give the rest to charity.

Additionally, lawyers plan to request up to $16.5 million in attorneys' fees and expenses and $20,000 to the two plaintiffs who originally brought on the class action suit.

Credits will not be given before April 15, 2012 and should take place within 30 days of the settlement approval, which is set to take place May 29, 2012.