Opponents Of $7B Swipe-Fee Deal Face Contempt Finding

Law360, New York (April 25, 2013, 4:51 PM EDT) -- A New York federal judge said Wednesday that trade groups objecting to a proposed $7.25 billion settlement of antitrust class claims against Visa Inc. and MasterCard Inc. over swipe fees must explain why they haven't yet followed an order to correct misleading information on their websites.

U.S. District Judge John Gleeson required six trade associations — including the National Restaurant Association and the National Association of Convenience Stores — to explain why they shouldn't be held in contempt of an April 11 ruling that found the...
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