- Acumen Powered by Robins Kaplan LLP®
- Affirmative Recovery
- American Indian Law and Policy
- Antitrust and Trade Regulation
- Appellate Advocacy and Guidance
- Business Litigation
- Civil Rights and Police Misconduct
- Class Action Litigation
- Commercial/Project Finance and Real Estate
- Corporate Governance and Special Situations
- Corporate Restructuring and Bankruptcy
- Domestic and International Arbitration
- Health Care Litigation
- Insurance and Catastrophic Loss
- Intellectual Property and Technology Litigation
- Mass Tort Attorneys
- Medical Malpractice Attorneys
- Personal Injury Attorneys
- Telecommunications Litigation and Arbitration
- Wealth Planning, Administration, and Fiduciary Disputes
Acumen Powered by Robins Kaplan LLP®
Ediscovery, Applied Science and Economics, and Litigation Support Solutions
June 6, 2023Super Lawyers Names Five Attorneys to “Southern California Rising Stars” List
June 1, 2023Chambers USA Recognizes Five Robins Kaplan Practice Groups and 17 Lawyers in 2023 Guide
May 2023Robins Kaplan LLP Celebrates 85 Years
June 9, 2023LGBTQ Legal Services: Transgender Name Change Clinic
June 13, 20232023 Probate and Trust Law Section Conference
June 14, 2023Leading Through Uncertainty
May 2023Raoul Shah: Keeping Humanity and Compassion Close
May 18, 2023NFT Trademark Defense Comes Down To Licensing Terms
April 20, 2023Drafting Subsequent Agreements to Avoid Arbitrability Litigation
September 16, 2022Uber Company Systems Compromised by Widespread Cyber Hack
September 15, 2022US Averts Rail Workers Strike With Last-Minute Tentative Deal
September 14, 2022Hotter-Than-Expected August Inflation Prompts Massive Wall Street Selloff
Find additional firm contact information for press inquiries.
Find resources to help navigate legal and business complexities.
Achieved Extraordinary $5.6 Billion Settlement in Interchange Fee and Merchant Discount Litigation
Largest Settlement of a Private Antitrust Action in the 130-Year History of the Sherman Act
March 15, 2023
In re Payment Card Interchange Fee and Merchant Discount Litigation, No. 05-md-1720 (E.D.N.Y.)
In the largest settlement of a private antitrust action in the 130-year history of the Sherman Act, on March 15, 2023, the United States Court of Appeals for the Second Circuit unanimously upheld the district court’s order giving final approval of a $5.6 billion settlement on behalf of U.S. merchants in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. The case alleges that Visa, Mastercard, and their member banks violated antitrust laws and charged merchants who accept credit and debit cards supracompetitive fees on card transactions.
Robins Kaplan serves as co-lead counsel in this case on behalf of a class of over 10 million U.S. merchants who accept Visa and Mastercard credit cards and debit cards for the purchase of goods and services. On their behalf, the firm filed the first case in this consolidated action over 18 years ago, pursuing an innovative theory that Visa’s and Mastercard’s interchange fee structure and rules are anticompetitive. Defendants include Visa and Mastercard, as well as major card-issuing banks such as JPMorgan Chase, Bank of America, Citibank, Wells Fargo, and Capital One.
The team first reached a historic settlement in 2012, which was reversed on appeal. The parties reached a new negotiated $5.6 billion settlement in 2018, which was granted final approval on December 16, 2019.
An appeal of the $5.6 billion negotiated settlement was then heard by the Second Circuit on March 16, 2022. On March 15, 2023, the United States Court of Appeals for the Second Circuit unanimously upheld the District Court’s order giving final approval of the $5.6 billion settlement.
If you are interested in having us represent you, you should call us so we can determine whether the matter is one for which we are willing or able to accept professional responsibility. We will not make this determination by e-mail communication. The telephone numbers and addresses for our offices are listed on this page. We reserve the right to decline any representation. We may be required to decline representation if it would create a conflict of interest with our other clients.
By accepting these terms, you are confirming that you have read and understood this important notice.