Retailers Dispute U.S. Bid for Settlement Funds
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Retailers that won a $3-billion antitrust settlement from Visa USA and MasterCard International Inc. are questioning a bid by the U.S. government to get a share of the settlement money.
In a Feb. 1 letter to the judge overseeing the case, the lead attorney representing the retailers said there was a “serious question” about whether the Justice Department and the U.S. Postal Service, which had filed claims Jan. 27, should be given a piece of the landmark settlement.
Under the settlement, proceeds will go to retailers that were allegedly overcharged as a result of some Visa and MasterCard rules.
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