Statement by Visa General Counsel Josh Floum in response to the U.S. District
Court's Preliminary Approval of the Multi-District Interchange Litigation
FOSTER CITY, Calif., Nov. 9 ,2012
FOSTER CITY, Calif., Nov. 9 ,2012 /PRNewswire/ -- "We are pleased that Judge
Gleeson has preliminarily approved this settlement, moving us closer to
resolving this long standing litigation to the benefit of all involved. Our
belief that the agreement will eventually receive final approval was
"As we have said from the beginning, this settlement is a fair and reasonable
compromise for all parties. It is the result of two years of negotiation
between retailers, their legal counsel, the networks, financial institutions
and two highly regarded mediators under the supervision of the court.
"We look forward to bringing closure to this issue and working in partnership
with retailers and our financial institution clients to accelerate the growth
of convenient, secure and reliable electronic payments."
SOURCE Visa Inc.
Contact: Visa Media Hotline, +1-650-432-2990
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