As we’ve discussed here before, there has been movement on the pending class action lawsuit against Visa and Mastercard. If you are a merchant who accepted Visa and Mastercard payments between January 1, 2004 and January 25, 2019, you may have recently received an email notifying you of the class action lawsuit. Additionally, you may have received a similar notification through the mail. If you haven’t received either, you can find more information here. Regardless, there are two important dates listed on these notifications.
- If a merchant wants to object to the settlement, they must do so by July 23, 2019. They then can sue the defendants on their own. They will not be eligible to claim any money from this settlement.
- The court date for the settlement hearing is November 7, 2019. If approved, merchants will receive an email or claim form letter with instructions on how to claim their funds.
Since this legal process began, there have been hearing delays as well as an earlier settlement agreement that was tossed out of court. Based on this past experience, I currently expect no less to happen again. However, we will continue to monitor the progress and notify merchants when and how to file for their claim if the court approves this settlement in November.