American Express Lawsuit
$1.8 Billion Antitrust Settlement against Mastercard
American Express Awarded $1.8 Billion in Mastercard Antitrust
David Boies and Don Flexner have completed negotiations, on behalf of American Express, for one of the largest antitrust settlements ever awarded to an individual company. The settlement is in the amount of $1.8 billion, and results from American Express' antitrust lawsuit against Mastercard .The two lawyers also recently negotiated a settlement with Visa, on behalf of American Express, for $2.25 billion.
In 2004 the Supreme Court ruled that Visa and MasterCard, by having prohibited their member banks from offering credit cards that could be used on rival payment network, had violated antitrust laws. American Express and Discover subsequently sued.
JUN-30-08: AmEx, Boies, Land Another Huge Antitrust Settlement [THE WALL STREET JOURNAL: AMERICAN EXPRESS SETTLEMENT]
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