Paul, Weiss client MasterCard Inc., along with Visa
Inc. and several banks, reached a $7.25 billion settlement with
merchants in antitrust lawsuits brought by the merchants over the
fees they pay when consumers use debit and credit cards. As The
Wall Street Journal reported, the settlement puts to rest a
long legal battle. The settlement was announced after financial
markets closed, and both MasterCard and Visa stock prices rose
following the news.
The team representing MasterCard included litigation
partners Bruce
Birenboim, Jay
Cohen, Andrew Finch, Ken Gallo
and Joe
Simons and counsel Gary Carney; and bankruptcy partner Kelley
Cornish.