Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
On December 13, 2019 the Court in In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL No. 1720 (MKB)(VBS), granted final approval to a $5.54 billion settlement in this antitrust litigation.
Robbins Geller attorneys, serving as co-lead counsel on behalf of millions of merchants, reached the settlement following more than a decade of litigation. As part of this settlement, defendants contributed additional funds to the class settlement fund that remained from an earlier settlement in 2012, which was approved by the district court in 2013 but was then reversed on appeal in 2016. The newest settlement, believed to be the largest antitrust class action settlement of all time, was upheld by the Second Circuit in March 2023.