Payment Processing Firm Urges Court To Stop Rivals' Merger
Law360 (July 2, 2018, 1:56 PM EDT) -- A payment processing company urged a California federal court to intervene and halt its rivals from merging, arguing that the pending acquisition is already hurting its bottom line and creating a monopoly on restaurant transactions.
Payment Logistics Ltd. on Friday urged a federal judge in the U.S. District Court for Southern California to grant a temporary injunction against Lighthouse Network's acquisition of Shift4 Corp., arguing that even though the deal isn't finalized it's already constricting the marketplace.
Lighthouse tried to reassure the court in June that its business accounted for too little of the marketplace to amount to a monopoly, saying competition...
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