Hundreds of retailers opposed to Visa Inc. and MasterCard Inc.'s proposed $7.25 billion settlement of a merchant fee price-fixing case will try to convince a federal judge the deal should be thrown out, Bloomberg News reported today. U.S. District Judge John Gleeson today is set to consider arguments over whether to give the deal preliminary approval, a move that would allow plaintiffs to begin signing up the more than 7 million retailers that might be eligible to participate. Estimated to be the largest-ever private antitrust settlement, the deal would end a seven-year-long case alleging that the card companies conspired with major banks to fix interchange, or swipe, fees charged to merchants when customers pay with plastic.
