Legal counsel for both Merchant Classes (“Cash Class” and Injunctive Relief Class”) have agreed to submit any amended arguments to the Defendants in preparation for the next hearing.
In a connected and concurrent action a large group of merchants and the Defendants each submitted briefs to the U.S. Supreme Court on December 01, 2016. These briefs argued that the decision by the U.S. 2nd Circuit Court of Appeals to decertify the Class and send the settlement back to the District Court should be overturned and the terms of the settlement as approved on December 13, 2013 should be reinstated.
On March 27, 2017 the U.S. Supreme Court elected not to hear a request by big banks and large retailers to reinstate a $7.25 billion class action antitrust settlement with Visa and MasterCard over interchange fees. The U.S. Supreme Court’s decision to not hear the certiorari petition leaves in place the U.S. 2nd Circuit Court of Appeals ruling that the previous settlement did not adequately represent the interest of some merchants.