WASHINGTON (AP) — The Supreme Court will not restore a $7.25 billion settlement between merchants and Visa Inc. and MasterCard Inc. over credit card transaction fees.
The justices did not comment Monday in leaving place a ruling by the federal appeals court in New York that tossed out the settlement in a lawsuit that began in 2005.
A group of 19 merchants and trade groups claimed in the lawsuit that Visa and MasterCard conspired to fix fees charged to stores for handling credit card payments.
A federal judge approved a settlement in 2013, but some retailers and consumer groups objected.
The 2nd U.S. Circuit Court of Appeals said the proposed settlement was unfair to merchants that wouldn’t have received any money.
- Posted March 29, 2017
- Tweet This | Share on Facebook
Court won't restore merchants' $7.25 billion swipe fees settlement
headlines Oakland County
- Annual Meeting
- Board of Commissioners dedicates funding to complete $29 million in local Oakland County road projects
- Supreme Court leaves in place Avenatti conviction for plotting to extort up to $25M from Nike
- Washington Twp. man guilty of killing his wife
- ABA meeting tackles AI, other ethical issues in changing landscape of profession
headlines National
- This Los Angeles lawyer found her calling as a death doula
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Artificial intelligence tools for brief writing and analysis are a small firm litigator’s new best friend
- Baker McKenzie partner drops suit seeking IRS documents on partnership scrutiny
- Family members sue networks after learning of loved ones’ deaths by seeing bodies on TV
- Ex-BigLaw attorney once ‘consumed with remorse’ over $10M client theft sentenced in new scheme