Second Circuit: In re Payment Card Interchange Fee and Merchant Discount Antitrust

Class Actions

Error to certify a class as settlement-only where injunctive and monetary remedies sought created conflicting interests.  Counsel had little incentive to zealously fight for injunctive component, given fee distribution, and class members could not opt-out.

Settlement agreement a nullity.  [Rather a lot of money.]

In re Payment Card Interchange Fee and Merchant Discount Antitrust