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UK Supreme Court allows $19 billion Mastercard class action to proceed


A closely divided UK Supreme Court ruled that the specialized court established to hear class actions improperly dismissed one of the first cases before it, a proposed $19 billion lawsuit against Mastercard, although whether the massive action proceeds to trial is subject to further litigation.
In an unusual 3:2 decision where the deciding vote was cast by a deceased justice, the UK’s highest court agreed with an appeals court that the Competition Appeal Tribunal incorrectly determined the Mastercard case wasn’t suitable for collective action treatment. The lawsuit seeks damages on behalf of every adult consumer in the UK between 1992 and 2007, some 42 million people, over alleged excessive interchange fees banks charge merchants.  ....

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