London Hotels Sue Visa, Mastercard Over Swipe Fees
By Najiyya Budaly (May 6, 2020, 5:21 PM BST) -- A group of businesses including London hotels Montcalm, Shaftesbury and Park Grand Paddington have launched new claims against Visa and Mastercard over swipe fees that they allegedly overpaid on over the past six years.
The 59 British and European companies, which include insurer Allclear Ltd., brought two separate High Court suits against the U.K. and European businesses of Visa Inc. and Mastercard Inc. on April 16.
They claim the payment giants abused their dominant positions and infringed European Union competition law to force the businesses to pay higher merchant service charges than they would have had to.
The action stems from the European...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!