A federal appeals court on Thursday threw out a $7.25 billion antitrust settlement among Visa, MasterCard and millions of retailers over credit card fees.
The 2nd U.S. Circuit Court of Appeals in New York said some of the retailers were inadequately represented in the litigation, which began in 2005. It also decertified the case as a class action.
A Visa spokeswoman said the company is reviewing the decision. MasterCard had no immediate comment.
