AmEx Merchant Fee Deal Wins Preliminary Court Approval

Law360, New York (February 6, 2014, 7:42 PM EST) -- A New York federal judge said on Thursday that he will preliminarily approve a settlement resolving two putative antitrust class actions challenging American Express Co.'s credit card rules, advancing a deal that allows retailers to surcharge credit card transactions and could put AmEx on the hook for up to $79 million.

U.S. District Judge Nicholas Garaufis indicated that he intends to preliminarily sign off on the deal, which covers two separate class actions involving the same merchants — one that challenges AmEx's surcharge rule and another...
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