Mastercard Loses $18.6 Billion Class Action Court Ruling
- Supreme Court gives green light to largest U.K. class action
- Legal challenge will now be heard by specialist tribunal
Photographer: Roberto Machado Noa/Getty Images
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Mastercard Inc. faces the prospect of a 14 billion-pound ($18.6 billion) U.K. class action -- the largest of its kind -- after losing another battle at the country’s highest court over illegal swipe fees.
The Supreme Court ruled in favor of a group behind a proposed British suit, representing some 46 million consumers. Friday’s decision also sets the stage for a slew of class-action cases, after the judges made it easier to bring mass claims.