Merchants' Attys Seek $720M In Fees In Visa, MasterCard MDL

Law360, New York (April 12, 2013, 7:56 PM EDT) -- Counsel for merchants in multidistrict antitrust litigation over swipe fees charged by Visa Inc. and MasterCard Inc. asked a New York federal judge Thursday to award $720 million in attorneys' fees, which would come out of a proposed settlement in the case.

The fee request, submitted by attorneys for the plaintiffs in the suit — a putative class of merchants alleging that Visa and MasterCard charged excessive interchange, or swipe, fees to accept their cards  — constitutes approximately 10 percent of the proposed settlement payout, which...
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