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Parker Waichman LLP Takes on the Credit Card Companies, Fights for Smaller Retailers that Form the U.S. Economy’s ‘Backbone’
Date:5/20/2013

New York, New York (PRWEB) May 20, 2013

National law firm Parker Waichman LLP and its co-counsels – Duncan Firm P.A. and Thrash Law Firm P.A., both based in Little Rock, Arkansas – have filed an objection to the final approval of the proposed $7.25 billion settlement of a price-fixing case against Visa Inc. and MasterCard Inc. over credit-card transaction fees. The objection was filed Wednesday, May 15, 2013, in the U.S. District Court for the Eastern District of New York. The related lawsuit against Visa and MasterCard (Case No. 1:05-md-1720) is titled In Re: Payment Card Interchange Fee and Merchant Discount Antitrust Litigation.

According to a May 15, 2013, Bloomberg report, Wal-Mart Stores Inc. revealed last July its dissatisfaction with the settlement and its pledge to prompt other merchants to reject it as well. The Bloomberg article added that Little Rock, the state capital and base of department-store chain Dillard’s Inc., also is against the settlement, as is the city of Oakland, California. According to Bloomberg, hundreds of objections have been filed – from retailers and merchants both small and large – since U.S. District Judge John Gleeson gave his preliminary sign-off of the settlement agreement in November 2012.

According to the court papers filed with the objection, the retailers and merchants opposing passage of the settlement agreement are the same ones that were originally named in the Retailers & Merchants Objection to Proposed Class Settlement Agreement [Document 1653], filed on October 18, 2012 (the “R&M Objectors”), plus additional retailers and merchants that oppose final approval after receiving notice of the settlement.

The businesses represented in this objection are a diverse group, the court papers revealed, which includes r
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