Distributors Sued Over Visa, MasterCard Gift Cards

Law360, New York (March 9, 2011, 3:08 PM EST) -- A New York woman filed a class action Monday against distributors of Visa Inc. and MasterCard Inc. gift cards claiming the companies violated state contracts laws by keeping card balances that were too low to use for another purchase.

Those balances total millions of dollars across a New York statewide putative class of gift card purchasers, plaintiff Stephanie Rose Preira said in a complaint filed in the U.S. District Court for the Southern District of New York.

The complaint names gift card marketing and distribution companies...
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