In 2012, a proposed multi-billion dollar class action settlement against Visa and MasterCard affected hundreds of Fortune 100 and 500 companies who were members of the class. While the class action settlement was going through the lengthy approval process (which was eventually reversed by the US Court of Appeals for the Second Circuit), NP Pprtners Jeffrey Angelovich and Michael Angelovich, along with lawyers from other firms, represented over 100 large opt-out merchants with combined Visa/MasterCard interchange fees in excess of $10 billion.
Although the amount of each settlement is confidential, our client merchants received a substantial recovery and were paid years before other members of the class. Our clients (and other merchants who opted out and pursued an individual recovery) are the only merchants to have been paid anything by Visa and MasterCard to date.
NP partners Jeffrey Angelovich and Michael Angelovich continue to represent Fortune 100 and 500 companies in complex antitrust and other affirmative corporate recovery matters.