Class Action Against Banks, Card Companies Tossed

Law360, New York (September 21, 2006, 12:00 AM EDT) -- A slew of credit card companies and banks can breathe a sigh of relief, following a federal judge's dismissal of a class action antitrust lawsuit alleging the defendants conspired to make arbitration clauses mandatory in cardholder agreements.

U.S. District Judge William H. Pauley granted a motion to dismiss because the plaintiffs didn’t meet the threshold for establishing standing under Article III of the U.S. Constitution. Judge Pauley also had other motions before him, but they were rendered moot by his decision.

The defendants in the case...
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