Judge OKs $7.6M Deal To End Processing Fee Class Claims

By Matt Fair (July 8, 2020, 4:21 PM EDT) -- A Pennsylvania federal judge gave preliminary approval to a $7.65 million settlement to end a pair of class actions accusing CardConnect Corp. of concealing charges imposed on merchants for its payment processing services.

U.S. District Judge Gerald Pappert said Tuesday that the deal had been reached only after some three years of rigorous litigation to flesh out potential strengths and weaknesses of the case, and that resolving the claims now made sense considering the uncertainty involved in continuing to press the matter in court.

"Experienced class counsel strongly recommend the proposed settlement," the judge said. "It appears to the court on...

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