Vorys Trial Highlighted in Reuters Article

An ongoing trial featuring Vorys attorneys was recently covered in a Rueters story titled “Mastercard, Visa lose bid to end parts of swipe fee litigation.”  The story focused on a recent ruling by a U.S. District Court judge in New York.  The judge rejected requests from Mastercard and Visa to dismiss claims brought by retailers, including some retailers represented by Vorys, that accuse the credit card networks of improperly fixing credit and debit card fees.

The story states:

“In a 64-page decision, U.S. District Judge Margo Brodie in Brooklyn said the evidence suggested that the retailers were "direct purchasers" of card acceptance services, giving them standing to sue.

Brodie also called it an open question whether Mastercard's 2006 initial public offering and Visa's 2008 IPO terminated any pre-IPO conspiracies that may have existed, or whether post-IPO rules were the result of ongoing conspiracies.

The decision covers parts of nationwide litigation that began in 2005. It was made public on March 7, after having been filed under seal on Feb. 22. Various banks that issue cards were also among the defendants.

Retailers accused Mastercard and Visa of overcharging them on interchange fees, or swipe fees, when shoppers used credit or debit cards, and barring them through "anti-steering" rules from directing customers toward cheaper means of payment.”

To read the full story on the Reuters website, click here.