Merchants supporting an antitrust settlement with American Express disputed claims by major retailers that the deal should be thrown out over unauthorized e-mails between lawyers associated with the case.
Dozens of retailers including Target Wal-Mart Stores Inc. and Home Depot Inc. contend Visa Inc. and MasterCard should pay more than the $5.7 billion they agreed on and AmEx’s settlement doesn’t go far enough to change the rules banning surcharges. The retailers are using the exchange of e-mails to press their opposition by arguing the communications showed the deals were rigged.
The e-mails “contain no suggestion” that an attorney representing merchants, Gary Friedman, “ever took any actions to the detriment” of his clients in his exchanges with the other attorney, according to a filing Wednesday in Brooklyn federal court.
Merchants in the AmEx case argued in their filing Wednesday that neither the Visa and MasterCard settlement nor their accord was affected by the discussions.
“There is not a single reference in any of the communications to any understanding or arrangement between Mr. Friedman and Ms. Ravelo regarding settlement terms in the two cases,” the merchants said.
Full content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 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