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U.K. retailers seek more antitrust damages from MasterCard - UK
U.K. retailers seek more antitrust damages from MasterCard - UK

U.K. retailers seek more antitrust damages from MasterCard - U.K

RETAILER NEWS

ChainStoreAge.com - Sep 30th 2014, 09:52

London – A group of U.K. retailers led by W.M. Morrison Supermarkets plc is reportedly seeking to extend the period for which it can claim antitrust damages against MasterCard from 2006 to 1992. According to Bloomberg, this could add as much as $1.6 billion to the damages the retailers are seeking. 

A court in London is reviewing the plaintiffs’ claims that MasterCard had unlawfully charged “interstate fees” on transactions, and that the six-year limit normally set on damages in this type of case does not apply because MasterCard fraudulently concealed how they were assessing the charges.

The court is expected to rule on how far back retailers can seek damages in January 2015. MasterCard has previously denied all claims by the retailers.

From ChainStoreAge.com 

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