In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
Pearson, Simon & Warshaw attorneys represent several large, national
retailers who have opted out of a class action settlement in this multidistrict
case arising from anticompetitive conduct in the credit and debit card
markets. The case alleges that Visa, MasterCard and their member banks
conspired to fix the levels of default interchange fees and enforced other
merchant restraints upon merchants who accept Visa and MasterCard payment
cards. A number of large merchants, including Wal-Mart, Target and Macy’s,
opted out of the settlement, which was approved by Judge John Gleeson
of the Eastern District of New York on December 13, 2013. It is believed
to be the largest antitrust case in United States history.
If you would like to discuss this case with Pearson, Simon & Warshaw, please
contact us.