A decade ago, Constantine Cannon and its client Wal-Mart Stores Inc. teamed up to wrest an historic $3 billion antitrust class action settlement from credit card companies, over the objections of some class members who called the settlement unfair. Now, with the card companies and their partner banks ready to shell out billions once again, it’s Wal-Mart and Constantine that are challenging the deal.
Visa, MasterCard and a group of credit card-issuing banks agreed on July 13 to pay an estimated $7.25 billion to settle claims that their credit card swipe fee practices are anticompetitive. The trio of firms representing the nationwide class of merchants Robins Kaplan Miller & Ciresi, Berger & Montague and Robbins Geller Rudman & Dowd say the proposed deal includes reforms that will benefit both retailers and consumers.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
