Foes Of $7B Swipe Fee Deal Ordered To Correct Websites

Law360, New York (April 11, 2013, 8:42 PM EDT) -- Websites criticizing a proposed $7.25 billion settlement of antitrust allegations against Visa Inc. and MasterCard Inc. over swipe fees that contain misleading information that must be corrected, a New York Federal judge ruled Thursday.

At a hearing, U.S. District Judge John Gleeson granted a motion filed by plaintiffs in the antitrust suit — a putative class of merchants alleging that Visa and MasterCard charged excessive interchange, or swipe, fees to accept their cards — and ordered various groups that object to a proposed settlement of the...
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