Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
The merchant plaintiffs in In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL No. 1720 (MKB)(JO), have asked a federal court in Brooklyn to approve their landmark class action settlement.
Robbins Geller attorneys, serving as co-lead counsel on behalf of merchants, have reached a $6.26 billion cash settlement with defendants in this antitrust litigation. Defendants have contributed additional funds to the class settlement fund that remains from the earlier settlement in 2012, which was approved by the district court in 2013 but was then reversed on appeal in 2016. The case was preliminarily approved on January 24, 2019. The final approval hearing is scheduled for November 7, 2019.