- 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
March 16, 2023Second Circuit Affirms Record $5.6 Billion Recovery in Antitrust Case
March 10, 2023Robins Kaplan Announces $28 Million Settlement in Case Against For-Profit College’s Directors & Officers
March 9, 2023Robins Kaplan LLP Launches New Professional Development Program
March 19-22, 2023PLRB 2023 Claims Conference
March 29-30, 2023ACI Managed Care Disputes and Litigation
April 3, 2023Conference of Tribal Lending Commissioners
March 13, 2023The Antitrust Case that Could Reshape Professional Golf
February 22, 2023A World Without Noncompetes: Protecting Confidential Information and Trade Secrets
February 7, 2023When Monkey Business Slips Into Trademark Infringement
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.
Press Statement by Rule 23(b)(3) Class Counsel: In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
Parties have reached a settlement in the action In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation.
September 18, 2018
Plaintiffs’ Class Counsel for the MDL 1720 Rule 23(b)(3) Damages Class confirm that the parties have reached a settlement in the action In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720 pending before the Honorable Margo K. Brodie in the Eastern District of New York.
Today the parties filed a motion for preliminary approval of the settlement as well as various supporting documents, including the settlement agreement. These materials will be available free of charge at paymentcardsettlement.com.
“The parties worked with two well-regarded mediators for more than a year to reach this agreement,” said Craig Wildfang of Robins Kaplan, one of the lead lawyers for the damages class. The cash settlement amount is $6.26 Billion, subject to possible reduction – not to exceed $700 Million – in the event that opt-outs exceed a certain threshold. Defendants have contributed additional funds to the class settlement fund that remains from the earlier settlement in 2012. The District Court approval of that earlier settlement in 2013 was reversed on appeal in 2016.
Patrick Coughlin, of Robbins Geller Rudman & Dowd LLP said, “The parties believe that the concerns expressed by the Court of Appeals in its 2016 opinion have been fully addressed in this new settlement.” As with that earlier settlement, this settlement is believed to be the largest-ever antitrust class action settlement.
The new agreement is not contingent on the resolution of any other action, including the pending class action for injunctive relief against the same Defendants who are parties to this new damages settlement. The agreement also ensures that the members of the Class have full opt out rights. Co-Lead Counsel H. Laddie Montague of Berger Montague noted that “all named plaintiffs have endorsed this agreement and believe it is in the best interests of the class.”
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.