Forty-nine attorneys general – those of 48 states and one from the District of Columbia – have filed a statement of objections to a US District Court outlining their concerns about the proposed $7.25 billion settlement offer by Visa and Mastercard. The offer, which looks to end a controversy concerning the credit card companies’ practice of issuing swipe fees at the register, could disable states’ ability to bring antitrust cases on consumers’ behalf, say the AGs. Reports say the 31-page report, filed Tuesday in the US District Court for the Eastern District of New York, was filed ahead of deadline for formal objection submissions. According to West Virginia AG Patrick Morrissey, the settlement’s language “could set a dangerous precedent of private parties using a lawsuit to insulate themselves from future efforts by my office to enforce state and federal antitrust laws.”
Full Content: Legal News Online
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI