$31M Visa, MasterCard Deal To End Antitrust Suits Nixed

Law360, New York (January 9, 2012, 11:07 PM EST) -- A California appeals court on Monday vacated a $31 million settlement approval for two consolidated class actions challenging Visa USA Inc.'s and MasterCard International Inc.'s allegedly anti-competitive debit and credit policies, finding the deal improperly released claims brought in one of the cases.

In remanding the case to trial court, a three-judge panel of the California Court of Appeal, First Appellate District, found the settlement did not properly take into account the value of the claims brought in the second action, which was brought by plaintiff...
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