The Traderszone Network

Published in TZ Latest News 29 July, 2015 by The TZ Newswire Staff

Merchants seek to void $6 billion Visa, MasterCard, AmEx settlements

Dozens of retailers are seeking to void nearly $6 billion of U.S. antitrust settlements with Visa Inc (V.N), MasterCard Inc (MA.N) and American Express Co (AXP.N) after learning that opposing lawyers exchanged confidential information, potentially tainting the accords. A group of retailers filed papers that remain under seal in the Brooklyn, New York federal court to scuttle their $5.7 billion accord with Visa and MasterCard, which won court approval in 2013, the retailers’ lawyer Owen Glist said in an email.

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