Thursday, March 02, 2006

Motion To Name Lead Plaintiffs' Counsel (

Click on this link to view the Feb 24th Court order granting a motion to name the lead plaintiffs' counsel for the payment card interchange fee antitrust litigation.

Excerpt: As background, on June 22, 2005, Robins, Kaplan, Miller & Ciresi LLP acting as counsel for Photos, Etc. Corporation (30 Minute Photos Etc.), filed the first of some forty class action lawsuits brought to date on behalf of a class of merchants against the defendant credit card networks and certain of their member banks. In essence, the plaintiffs allege that the defendants have fixed transaction costs known as "interchange fees" at supracompetitive levels in violation of Section One of the Sherman Act. See DE 27 (Certain Class Plaintiffs' Memorandum of Law) at 1-2. By order of the Judicial Panel on Multidistrict Litigation dated October 19, 2005, that action and thirteen other related class action law suits brought in four separate districts were consolidated in the current litigation for pretrial purposes, and many more have since followed. See DE 2, DE 29, DE 94.

The Court appointed as the plaintiffs' co-lead counsel the following three law firms: Robins, Kaplan, Miller & Ciresi L.L.P.; Berger & Montague, P.C.; and Lerach, Coughlin, Stoia, Geller, Rudman & Robbins, L.L.P.