NOTE 15 : COMMITMENTS AND CONTINGENCIES Letters of C redit As of March 31, 2012 , we had four irrevocable standby letters of credit that totaled $ 5.5 million. These standby letters of credit, which expire at various times through 2012 , are used to collateralize certain obligations to third parties. As of March 31, 2012 , no amounts were outstanding under these standby letter of credit agreements. Legal Matters In October 2009, an Illinois resident, Laurie Piechur, individually and on behalf of all others similarly situated, filed a putative class action complaint against our Redbox subsidiary in the Circuit Court for the Twentieth Judicial Circuit, St. Clair County, Illinois. The plaintiff alleges that, among other things, Redbox charges consumers illegal and excessive late fees in violation of the Illinois Consumer Fraud and Deceptive Business Practices Act, and that Redbox's rental terms violate the Illinois Rental Purchase Agreement Act or the Illinois Automatic Contract Renewal Act and the plaintiff is seeking monetary damages and other relief. In November 2009, Redbox removed the case to the U.S. District Court for the Southern District of Illinois. In February 2010, the District Court remanded the case to the Circuit Court for the Twentieth Judicial Circuit, St. Clair County, Illinois. In May 2010, the court denied Redbox's motion to dismiss the plaintiff's claims, and also denied the plaintiff's motion for partial summary judgment. In November 2011, the plaintiff moved for class certification, and Red box moved for summary judgment. The court denied Redbox's motion for summary judgement in February 2012, and the parties are briefing the plaintiff's motion for class certification. We believe that the claims against us are without merit and intend to defend ourselves vigorously in this matter. Currently, no accrual has been established as it was not possible to estimate the possible loss or range of loss because this matter had not advanced to a stage where we could make any such estimate. On January 24, 2