Visa, MasterCard's $7B Deal In Fee MDL Nears Approval

Law360, New York (October 24, 2012, 10:35 PM EDT) -- A New York federal judge on Wednesday indicated that he was leaning toward a preliminary approval of a $7.25 billion settlement that would resolve the long-running multidistrict litigation accusing Visa Inc. and MasterCard Inc. of colluding on interchange fees.

U.S. District Judge John Gleeson said in a court filing that while he does not typically schedule oral arguments for preliminary approval motions, he would allow plaintiffs with objections to make their case before he issues a ruling.

Last week, merchant plaintiffs asked the Eastern District of...
To view the full article, register now.