Court cuts American Express settlement
Court cuts American Express settlement

Merchants get a new chance to assert claims

Finding “egregious” misconduct by the lead lawyer for a class of American Express merchants, a New York district court rejected a request for final approval of a nationwide antitrust settlement.

The good news? American Express merchants that have

The attorneys-general of eight states plus the Antitrust Division of the U.S. Department of Justice have settled antitrust claims against Visa and MasterCard over their restrictions on merchants' freedom to steer customers away from cards that carry high acceptance charges. 

They also sued American Express after it declined to settle.

The pact with Visa and MasterCard