SEATTLE, Oct. 13 /PRNewswire/ -- The following letter is being issued by Hagens Berman Sobol Shapiro LLP:
Dear Merchants,
Hagens Berman Sobol Shapiro LLP and Constantine Cannon LLP, Co-Lead Counsel for United States merchants in the In re Visa Check/MasterMoney Antitrust Litigation, CV 96-5238, advise Class Members as follows:
On October 9, 2009, Lead Counsel filed a request with the District Court for the Eastern District of New York to make a distribution of more than $1 billion to eligible class members. The distribution would be primarily funded from the proceeds of the prepayment deals recently approved by the Court and would include payment of residual monies remaining in the settlement funds after accounting for the payment of all approved claims.
The distribution payments will be made on a pro rata basis to class members who received and cashed their checks for signature debit, PIN debit, and credit card overcharges. Lead Counsel anticipates mailing distribution checks within four weeks of the Court's determination of the total residual payment amount to be made in this distribution.
Lead Counsel's letter seeking Court approval of the proposed distribution of residual settlement funds is available by clicking here and on the case website, www.inrevisacheckmastermoneyantitrustlitigation.com, by clicking on the link entitled "Lead Counsel's October 9, 2009 letter seeking authorization to distribute more than $1 billion of residual settlement funds."
Details concerning merchant rights under the Settlement are available on the case website by clicking on the sidebar option entitled "Merchant/Class Member Rights Under the Settlement." You may also call 1-888-641-4437 for additional assistance.
Sincerely,
HAGENS BERMAN SOBOL SHAPIRO LLP
Co-Lead Counsel for the Class
CONSTANTINE CANNON LLP (formerly Constantine & Partners) Co-Lead Counsel for the Class Counsel@InReVisacheckMastermoneyAntitrustLitigation.com
About Hagens Berman Sobol Shapiro
Hagens Berman Sobol Shapiro is a nationally recognized class-action and complex-litigation law firm based in Seattle with offices in Chicago, Boston, Los Angeles, Phoenix and San Francisco. Among recent successes, HBSS negotiated a $300 million settlement in the DRAM memory antitrust litigation, the largest antitrust settlement in U.S. history, recovered $340 million on behalf of Enron employees, and was part of the leadership team in the $3 billion Visa/MasterCard settlement. In pharmaceutical litigation, the firm's recent successes include a $350 million settlement with McKesson, more than $200 million with other parties in drug-pricing litigation, and a $150 million settlement regarding Lupron. HBSS represented Washington and 12 other states against the tobacco industry that resulted in the largest settlement in history. For a complete listing of HBSS cases, visit www.hbsslaw.com.
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SOURCE Hagens Berman Sobol Shapiro
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