Visa, MasterCard Settle Discover's $6B Antitrust Suit

Law360, New York (October 14, 2008, 12:00 AM EDT) -- On the eve of trial, credit card giants Visa Inc. and MasterCard Inc. have reached a deal with Discover Financial Services Inc. to settle a multibillion-dollar antitrust suit.

The companies confirmed the agreement in principle in three separate statements on Tuesday, but declined to detail the terms of the proposed settlement. The four-year-old case was scheduled to go to trial in the U.S. District Court for the Southern District of New York this week.

“The specific terms of the settlement are still being negotiated and will...
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