June 30, 2016
On June 30, 2016, the United States Court of Appeals for the Second Circuit reversed the district court’s certification of the approximately seven billion dollar settlement class in the In Re Payment Card Interchange Fee And Merchant Discount Antitrust Litigation. The Second Circuit determined that the class of retailers and merchants were inadequately represented in violation of Fed. R. Civ. P. 23(a)(4) and the Due Process Clause.
Nix Patterson & Roach represented a broad consortium of large retailers and merchants who chose to opt out of the now-vacated settlement class and pursue their claims directly against Visa and Mastercard. The claims of NPR’s clients have long been resolved in comparison to those retailers and merchants who were waiting for class settlement benefits. Class benefits will now be delayed indefinitely, if they are ever to materialize.
The Visa/Mastercard litigation is being led by NPR partners Jeffrey Angelovich and Michael Angelovich.