MasterCard Statement on Preliminary Approval in U.S. Merchant Litigation
Tweet this News: #MasterCard Statement on Preliminary Approval in US Merchant
Litigation http://bit.ly/RJRfqv [Press Release]
PURCHASE, N.Y. -- November 09, 2012
MasterCard is pleased that the Honorable Judge John Gleeson of the U.S.
District Court for the Eastern District of New York has granted preliminary
approval in the U.S. merchant litigation and we remain confident that the
court will grant final approval in the coming months.
"While we recognize some merchants may have different opinions, the settlement
represents a solution reached after years of litigation and months of
negotiation," said Noah Hanft, General Counsel and Chief Franchise Integrity
Officer, MasterCard Worldwide. "The provisions of the settlement, including
the flexibility for merchants to impose checkout fees, new negotiating tools
for merchants and the scope of the release, was reached with the assistance of
the court and was supported by the merchant class representing millions of
large and small retailers, and prominent trade groups across the country."
About MasterCard Worldwide
MasterCard (NYSE: MA), http://www.mastercard.com/, is a global payments and
technology company. It operates the world’s fastest payments processing
network, connecting consumers, financial institutions, merchants, governments
and businesses in more than 210 countries and territories. MasterCard’s
products and solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more secure and
more efficient for everyone. Follow us on Twitter @MasterCardNews, join the
discussion on the Cashless Conversations Blog and subscribe for the latest
James Issokson, 914-249-6286
Press spacebar to pause and continue. Press esc to stop.