October 25, 2016
The U.S. District Court in Brooklyn NY held a hearing /status conference for the Visa /MC settlement on October 19, 2016 as the parties continue to work through the court procedures dealing with scheduling ,logistics and housekeeping issues.
The primary focus of the hearing was to move forward on the appointment of lead counsel for the putative Rule 23(b) (2) class (the injunctive or “Rules Changes Class”) and the putativeRule23(b) (3) class (the “Cash Class”). Some groups at the hearing argued that the settlement should move forward with only a Cash Class, however that seems unlikely when considering the following comments made by Judge Orenstein: “I absolutely do presuppose a role for the {Rules Change Class} in this case.”
The next order of business is to appoint counsel to represent the Classes. The next hearing is scheduled for December 08, 2016.