The U.S. District Court in Brooklyn held a hearing / status conference for the Visa / MC Settlement on December 08, 2016.Judge Orenstein on November 30th, 2016 ordered the appointment of separate counsel for the Cash Class and the Rules Change Class. The group of attorneys that had been in place for approximately ten years in the original class action settlement and had obtained the settlement thrown out by The 2nd U.S. Circuit Court of Appeals in New York in June 2016 was re-appointed and will continue to represent the Cash Class. A separate group of three firms were selected to represent the Rules Change Class. The lack of appointment of separate class counsel was a major finding of fault by The U.S. Court Of Appeals For the 2nd Circuit when they reversed the settlement approved by a lower court.
With Class counsel now appointed by Judge Orenstein, hopefully the entire process of working towards a revised settlement agreement will proceed in an expedited manner. The next hearing is scheduled for February 9th 2017.