Most Named Plaintiffs Oppose $7B Visa, MasterCard Fee Deal

Law360, New York (October 12, 2012, 6:45 PM EDT) -- The majority of the named plaintiffs in multidistrict litigation accusing Visa Inc. and MasterCard Inc. of colluding on interchange fees now oppose a proposed $7.25 billion settlement, the six trade group plaintiffs in the case said Friday.

All in all 10 of the 19 named plaintiffs in the putative class action have come out against a settlement that many retailers have criticized as offering a relatively low payout compared with what the credit card companies bring in through the fees and no real fix to the underlying...
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