Final Fairness Hearing to be held September 12
Last November, United States District Court Judge John Gleeson gave premliminary approval of the propsed Visa/MasterCard class action settlement. In March 2013, following the initial approval, the Court appointed Administrator began issuing notifications of the propsed final settlement. On May 28, the opportunity for a business to remove itself from the Class Action Settlement transpired.
Now, on September 12, 2013, a Final Fairness Hearing will be held in the District Court in New York. Members of the CST team will attend the hearing. After the hearing on September 12, the Court will consider arguments and may definitively approve or reject the Class Action Settlement. Thereafter, the Administrator will begin providing Claimants with estimates of interchange charges they paid during the applicable period.
Stay tuned for a report on the September 12 Fairness Hearing.
Wayne M. Babovich, PhD
