Our Financial Services Group summarizes the closely observed preliminary settlement agreement over the fees credit card companies and banks charge merchants....more
Last week the Second Circuit issued a new decision affirming, with one exception, the approval of a $5.6 billion revised class action settlement in the long-running Visa/Mastercard antitrust litigation. (See my blog post on...more
After an ill-fated multi-year effort to develop a self-driving car, Uber (which spent “hundreds of millions of dollars” on the project) is “handing the autonomous vehicle effort over to a Silicon Valley start-up”—Aurora—along...more
Issues surrounding network rules made headlines recently, with the Second Circuit Court of Appeals rejecting a $7.25 billion deal between Visa and MasterCard and approximately 12 million merchants claiming the networks worked...more
Last week, the Second Circuit reversed the approval of what was reportedly the largest antitrust class action settlement in history, valued at $7.25 billion. In re Payment Card Interchange Fee and Merchant Discount Antitrust...more
Two years after the massive holiday season theft of customers’ payment card data from Target point of sale terminals, the Target data breach litigation appears to be entering its final act. On Tuesday, December 1, Target...more
Card-issuing banks are forging ahead with their lawsuit against Target arising from the 2013 holiday shopping season data breach. Their July 1 motion for class certification has just been unsealed, allowing a glimpse at...more
Senior U.S. District Court Judge Paul Magnuson issued an order on Thursday, May 7 denying a request by counsel for card issuer banks to enjoin the settlement of data breach related claims negotiated between Target and...more
Target Corp. announced yesterday that it has settled the claims of MasterCard International Inc. (MasterCard) against it to reimburse MasterCard and its card issuers for the losses it sustained in issuing new credit and debit...more