Judge To Mull $7B Settlement In Visa, MasterCard Fee MDL

Law360, New York (November 8, 2012, 6:24 PM EST) -- The judge overseeing a long-running multidistrict litigation accusing Visa Inc. and MasterCard Inc. of colluding on interchange fees is set to hold a hearing Friday to consider preliminarily approving a $7.25 billion settlement that has fiercely divided the plaintiffs in the litigation. 

In scheduling Friday's hearing, U.S. District Judge John Gleeson said that while he does not typically hear oral arguments for preliminary approval motions, he would allow plaintiffs with objections to make their case before he issues a ruling.

The plaintiffs filed a motion in October asking the...
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