CheckFree Holdings Corp. (CKFR), the next Dell, Intel? Message Board

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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?

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To: Ed Flynn who wrote (20040)	4/28/2003 9:59:03 AM
From: StocksMan	Read Replies (1) of 20297

MasterCard Settles Part of Debit Suit Monday April 28, 9:54 am ET MasterCard Settles Its Portion of Debit Card Suit, Leaving Visa USA As Sole Defendant NEW YORK (AP) -- MasterCard International has settled its portion of a lawsuit filed by Wal-Mart Stores Inc. and thousands of other retailers over its debit-card policies, a federal judge said Monday. The surprise announcement by U.S. District Judge John Gleeson -- just as the trial was set to begin -- left Visa USA as the remaining defendant in the closely watched lawsuit. Gleeson gave no details of what he called the "11th-hour settlement," saying only: "The case is settled as to MasterCard." He ordered MasterCard, Wal-Mart and other plaintiffs in the suit not to speak publicly about the settlement. "I don't want this jury pool tainted by that," the judge said, before he began questioning potential jurors for what was left of the suit. Opening arguments were expected later Monday in Brooklyn federal court. The retailers are suing for billions of dollars. They claim Visa and MasterCard have tried to monopolize the fast-growing market for debit cards in the United States by insisting that merchants who accept their credit cards must also accept their debit cards. The retailers say the two card companies charge unfair fees, eventually driving up costs for consumers. Visa and MasterCard say the policy, known as "honor all cards," is important so that consumers can have more choice. biz.yahoo.com

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