Visa, MasterCard Oppose Delay On $7B Antitrust Settlement

Law360, New York (November 30, 2012, 5:04 PM EST) -- Visa Inc. and MasterCard Inc. on Thursday asked a New York federal court not to suspend approval of a $7.25 billion settlement resolving multidistrict litigation over allegedly excessive and anti-competitive swipe fees, arguing that retailers objecting to the settlement aren't likely to succeed in appealing it.

In a letter to U.S. District Judge John Gleeson, Visa and MasterCard contested a request lodged Tuesday by 10 merchant groups and retailers who object to the settlement as insufficient and unfair, refuting the objector plaintiffs' position that they have...
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