Parkway Corp., et al. v. Visa, U.S.A., In., et al., No. 05-CV-6349 (S.D.N.Y.) KSG has filed an antitrust class action complaint on behalf of merchants that accept for payment the major credit card networks, Visa and MasterCard. The complaint alleges antitrust violations stemming from the networks’ application of an anticompetitive “interchange fee.” Plaintiffs allege that the fee has been set at artificially inflated levels through a price fixing arrangement among Visa, MasterCard and the thousands of banks that control them. This case, Parkway Co. et al. v. Visa U.S.A. Inc., has recently been transferred to the MDL-1720, In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, in the Eastern District of New York.
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Originally Posted: 12/15/2005