In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation Assigned to: Chief Judge Margo K. Brodie Referred to: Magistrate Judge Joseph A. Marutollo Cause: 15:1 Antitrust Litigation

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Case overview

Case Number:

1:05-md-01720

Court:

New York Eastern

Nature of Suit:

410 Anti-Trust

Multi Party Litigation:

Class Action, Multi-district Litigation

Judge:

Chief Judge Margo K. Brodie

Firms

Companies

Government Agencies

Sectors & Industries:

August 14, 2012
Opposition To $7B Interchange Fee Deal Riles Class Counsel

The plaintiffs' counsel that negotiated the $7.25 billion interchange fee settlement with Visa Inc. and MasterCard Inc. are upset with efforts by one of the suit's named plaintiffs and its new attorneys to rally opposition to the deal, letters unsealed Monday show.
August 09, 2012
Judge Sets October Deadline For $7B Card Swipe Fee Deal

A putative class of plaintiffs seeking approval for a record-setting $7.25 billion antitrust settlement with Visa Inc., MasterCard Inc. and a slew of banks over the companies' credit card interchange fees has until late October to formally file the deal, according to an order unsealed Thursday.
August 07, 2012
Durbin Rips $7B Visa, MasterCard Interchange Settlement

Sen. Richard Durbin, D-Ill., urged retailers Thursday to reject a $7.25 billion proposed settlement with Visa Inc. and MasterCard Inc. in antitrust multidistrict litigation over interchange fees paid by merchants, calling the deal a "stunning giveaway."
August 02, 2012
Pharmacy Group Opposes $7B Swipe Fee Antitrust Settlement

The $7.25 billion settlement resolving multidistrict antitrust allegations against Visa Inc. and MasterCard Inc. over their allegedly excessive swipe fees again faced scrutiny on Wednesday as a pharmacists group became the latest to oppose the deal, saying it was not in the best interest of its members.
July 26, 2012
Grocers Group Latest To Oppose $7B Interchange Fee Deal

The National Grocers Association on Thursday became the second named plaintiff in multidistrict litigation over interchange fee antitrust claims to oppose a $7.25 billion settlement with Visa Inc. and MasterCard Inc., hiring the same law firm already handling a similar challenge.
July 25, 2012
Retail Opposition Clouds $7B Interchange Fee Deal's Future

Backed by antitrust big guns Constantine Cannon LLP, the retail group behind growing opposition to Visa Inc.'s and MasterCard Inc.'s $7 billion settlement in the interchange fee antitrust case may not derail the deal completely but could force the credit card giants back to the negotiating table.
July 24, 2012
Following Target, Wal-Mart Opposes $7B Swipe Fee Deal

Wal-Mart Stores Inc. became the latest retailer to criticize a recent $7.25 billion settlement in an antitrust class action against Visa Inc. and MasterCard Inc. over interchange fees paid by merchants, saying Tuesday that the deal fell short of making real change.
July 23, 2012
Target Says $7B Visa, MasterCard Settlement A Raw Deal

Target Corp. on Friday came out against a recent $7.25 billion settlement in antitrust multidistrict litigation against Visa Inc. and MasterCard Inc. over interchange, or swipe, fees paid by merchants, saying the deal would actually hurt consumers and retailers alike.
July 20, 2012
Attys In $7.25B Visa, Mastercard Case Ask To Drop Trade Group

The head lawyers representing a class of merchants in their proposed $7.25 billion antitrust settlement with Visa Inc. and MasterCard Inc. on Thursday moved to drop a trade association as a client, saying they can't represent the group anymore since it opposes the deal.
July 13, 2012
Visa, MasterCard To Pay $7.25B To Settle Card-Fee MDL

Credit card companies Visa Inc. and MasterCard Inc. and a slew of banks agreed Friday to a $7.25 billion settlement ending class allegations in a sprawling multidistrict litigation in New York that they artificially inflated the prices of interchange fees paid by merchants.

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