In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
(E.D.N.Y.) Representing a major financial institution in federal antitrust class and individual actions alleging that the payment-card practices of the defendant card networks and financial institutions constitute an unreasonable restraint of trade and illegal monopolization, in what is likely the largest private antitrust suit ever brought. (Ongoing)
In re Late Fee and Over-Limit Fee Litigation
(N.D. Cal.) Won dismissal for a major financial institution in a class action challenging the imposition of late and overlimit fees as a violation of the Sherman Act and the National Bank Act. Case is currently on appeal before the Ninth Circuit. (Ongoing)
In re Currency Conversion Fee Antitrust Litigation
(S.D.N.Y.) Represented a major financial institution in a class action alleging that Visa, MasterCard, and the largest card-issuing banks conspired to fix and conceal foreign currency fees in violation of the antitrust laws, the Truth in Lending and Electronic Fund Transfer Acts, and various state laws. In October 2009, the district court granted final approval of the settlement which was highly favorable to our client. (2009)
Licci v. American Express Bank
(S.D.N.Y.) Representing a major financial institution in an action seeking damages for correspondent banking services. (Ongoing)
American Express v. Visa, et al.
(S.D.N.Y.) Favorably settled a matter for a major financial institution. Allegedly defendants violated the Sherman Act by conspiring to exclude American Express from the card-issuing and network services markets. (2006)