Visa, MasterCard Say $7B Swipe Fee Deal Bars Retailers' Suit

Law360, New York (October 21, 2013, 5:30 PM EDT) -- Visa Inc. and MasterCard Inc. told a New York federal judge Friday that an antitrust suit brought by Target Corp. and other retailers over the companies' allegedly anti-competitive fees is barred by an earlier $7.25 billion settlement deal and that the retailers' attempts to overcome that hurdle are meritless.

The credit card giants told the court that the retailers have misrepresented the terms of release in the previously settled case, known as Visa Check, in an attempt to re-ignite litigation after they opted out of the...
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