Mastercard lost an appeal in a London bench on Tuesday against a judgment in a 10 billion pound-plus ($12 billion-plus) collective action that allows the claims of about three million people who have died since the lawsuit began to continue.
The international prices processor is meeting a lawsuit brought by consumer champion Walter Merricks on behalf of approximately 46 million adults in the United Kingdom, which became the first mass consumer action approved in the UK in 2021.
He added the development of Mastercard’s point would be to thwart, at least to a significant extent, the overall purpose of the regime.
A spokesperson for Mastercard said we will continue to fight it [the case] and are confident that, once the facts are present in court, the case was thrown out.
Merricks’ attorney Boris Bronfentrinker told Mr. Merricks is happy with today’s decision and looks forward to now prevailing on the merits to secure the billions in damages owed by Mastercard to UK consumers.
Merricks alleges Mastercard set excessive interchange fees – the fees retailers pay credit card companies when consumers use a card to shop – between May 1992 and June 2008 and that fees were passed on to consumers as retailers raised prices.
LONDON (Reuters) – Mastercard filed a request in a London court on Tuesday against a ruling in a 10 billion pound-plus ($12 billion-plus) joint action that allows the claims of around three million people who have died since the lawsuit began to continue.
The global costs processor is meeting a lawsuit brought by consumer champion Walter Merricks on behalf of approximately 46 million grown-ups in the United Kingdom, which evolved the first mass consumer action approved in the UK in 2021.
The case was approved last year after a nearly five-year journey from the first-instance Competition Appeal Tribunal (CAT), which originally refused to give the go-ahead, to the UK Supreme Court and back.
In March, the CAT stated the date for determining whether components of the claimant class are based in the UK should be when the case was filed in 2016, meaning the claims of roughly three million people who had died since could be continued by their estates.
Mastercard’s challenge to that decision stood dismissed on Tuesday by the Court of Appeal, which ruled that the CAT was allowed to take into account that three million people who had valid claims in 2016 exclude.
Judge Julian Flaux enunciated general purpose of the UK’s joint proceedings points roughly equal to US class actions – is to have access to analysts for personal claimants who would not otherwise be able to obtain legal redress.
He counted the development of Mastercard’s case would be to thwart, at least to a considerable extent, the overall purpose of the regime.
A representative for Mastercard said to continue, to fight it [the case], and confident that once the facts are present in court, the case was thrown out.
Merricks’ lawyer Boris Bronfentrinker told Mr. Merricks is pleased with today’s judgment and looks forward to now prevailing on the merits to secure the billions in damages owed by Mastercard to UK consumers.
Merricks alleges Mastercard set inflated business fees – the fees retailers pay credit card companies when consumers use a card to shop – between May 1992 and June 2008 and that fees passed on to consumers as retailers raised prices.
In March, the CAT said the date for determining whether members of the claimant class based in the UK should be when the case was filed in 2016, representing the claims of roughly three million individuals who had died since could be continued by their estates.
Mastercard’s challenge to that decision was dismissed today by the Court of Appeal, which ruled that the CAT was allowed to take into account that three million people who had valid claims in 2016 were excluded.
Judge Julian Flaux said the general purpose of the UK’s collective proceedings regime — roughly equivalent to US class actions — is to deliver access to justice for individual claimants who would not otherwise be able to obtain legal redress.
He counted the development of Mastercard’s case would be to thwart, at least to a significant extent, the overall purpose of the regime.
A spokesperson for Mastercard said we will continue to fight it [the case] and are confident that, once the facts are present in court, the case was thrown out.
Merricks’ lawyer Boris Bronfentrinker spoke Mr. Merricks is happy with today’s judgment and looks ahead to now prevailing on the merits to secure the billions in damages owed by Mastercard to UK consumers.
