Philips Settles Rebate Case

Philips Electronics settled federal charges that it failed to pay rebates on time to more than 50,000 customers.

The buyers of Philips computer products waited as much as several months beyond the promised eight-week rebate period, the Federal Trade Commission said. Under the settlement, the company agreed to pay eligible consumers within 10 days.

The rebates, from $20 to $100, were for such products as CD drives and monitors, the FTC said.

A spokesman said the delay occurred when Philips switched companies that handle rebates in the middle of a promotion.