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MasterCard Reaches Settlement Over Fees
Practices
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, among others, included litigation partners Bruce Birenboim, Jay Cohen, Andrew Finch, Ken Gallo and Joe Simons and counsel Gary Carney.