Visa and Mastercard Antitrust Litigation

United States District Court for the Eastern District of New York.

A nationwide class action by retail merchants alleging that Visa and Mastercard illegally coerced them to accept and process debit card transactions in violation of federal antitrust statutes, specifically sections 1 and 2 of the Sherman Act. The plaintiff merchants, which ranged in size from multinational conglomerates (e.g., Wal-Mart) to sole proprietorships, sought both injunctive prohibitions and monetary reimbursement for debit card commissions associated with all retail transactions during the eleven year period between 1992 and 2003.

Andersen Schwartzman Woodard Brailsford PLLC attorney Benjamin Schwartzman participated in co-lead counsel efforts which ultimately obtained a global settlement providing $1.1 billion dollars in damage payments to more than 630,000 class member merchant businesses, as well as injunctive relief that was estimated to represent more than $25 billion in economic value to the class.