NEW YORK, Feb. 13, 2006 -- Counsel for a group of merchants that has sued all the major credit card companies for antitrust violations today announced that, following negotiations, Discover has agreed to drop its "No Surcharge Rule" and, consequently, that Discover would be dropped from the antitrust class action, which is pending in a Brooklyn federal court before District Judge John Gleeson.
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[source: Reinhardt Wendorf & Blanchfield]
Separately, Reuters reported Discover President Roger Hochschild said in an interview Monday the unit expects to gain market share by offering lower fees to merchants and by not setting minimum payment amounts.
