Visa/Mastercard Interchange Fee Litigation
The Court has preliminarily approved a proposed settlement of a maximum of $5.54-$6.25 billion in a class action lawsuit, called In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720. The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard cards because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws.
Data Analysis of Claim
Our attorneys work with our clients to identify available economic data both from our clients and from possible outside sources. Our team will analyze and organize the economic data to determine what missing information exist to best place the claim to maximize its value.
After assisting our clients in gathering all the necessary data and documentation, we then use our knowledge of the settlement agreement andinterworkings of the claims process to prepare, process, and file claims on our client’s behalf.
Throughout the claims process, our attorneys and analysts consistently monitor the case, court filings and client’s claims to troubleshoot any issues that may arise and address questions or concerns.
If a claim administrator issues an audit request, our attorneys will prepare an audit response on the client’s behalf and will address the entire claim audit process including advocating for true claim value at no expense to clients.
When submitting the claim, our office and claims analysts work directly with the claims administrator to manage the receipt of settlement funds to ensure timeliness and the accurate value of claims. Our office will then promptly process and distribute your post-fee recovery along with a full financial statement of the claim.
Disclaimer: The U.S. District Court for the Eastern District of New York is supervising a class action case called In Re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL No. 1720 (MKB) (JO). This is not an official court notice. For additional information, please visit the court-approved website at www.paymentcardsettlement.com, or contact class counsel or the class administrator. No claim forms are available at this time, and no claim filing deadline has been set. No-cost assistance will be available from the class administrator and class counsel during the claims-filing period. Class members need not sign up for a third-party service in order to participate in any monetary relief. Please understand that you have the right to file on your own. There are specialized companies or law firms, including Patel PC, that may offer to file your claim or offer assistance with claim filing for a fee.