LONDON—Visa and Mastercard have fought off a new set of lawsuits over fees charged to retailers, with a London tribunal ruling the proposed collective cases cannot proceed for now, Reuters reported.
The two firms already face a long list of lawsuits in London over so-called multilateral interchange fees, Reuters noted.
Visa and Mastercard are each being sued by hundreds of claimants at London's Competition Appeal Tribunal, which is currently managing the various cases together, according to the report.
Special purpose vehicle Commercial and Interregional Card Claims (CICC) brought another set of lawsuits against Visa and Mastercard last year, seeking damages on behalf of merchants which were allegedly overcharged, Reuters noted.
At a hearing in April, CICC asked the tribunal to certify its cases under the United Kingdom's collective proceedings regime, which is roughly equivalent to the class action regime in the United States, Reuters said.
The Competition Appeal Tribunal refused to certify the cases in a written ruling, but gave CICC eight weeks to amend their lawsuits if they wished to proceed.
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