Visa Mastercard Settlement Opt-Outs Seek to Litigate Anew
Major retailers who opted out of the $7 billion Visa/Mastercard price fixing antitrust settlement are seeking to litigate their individual claims anew, it would appear. The court’s final approval hearing is currently scheduled for September 10, 2013, in the Eastern District of New York. Judge Gleeson is going to be asked to approve final settlement. Yet, thousands of major retailers have opted out, representing billions in notional damages, and even more after mandatory trebling. One wonders whether the Defendants do not have the grounds to evade the settlement in light of the vast amount of opt-outs, or whether the Court intends to allow more time for the opt-outs to make their case for no settlement.