A federal judge in Brooklyn formally rejected a
U.S. District Judge Margo Brodie issued the ruling Tuesday, and ordered the parties to confer and respond to the ruling by June 28.
Brodie said at a
Following the June 13 hearing, the credit-card companies said they were disappointed by the judge’s stated intention to reject the deal. But some merchant groups applauded Brodie’s comments.
“We appreciate that there was recognition of the fatal flaws that would have made the settlement a bad deal for Main Street rather than a correction of credit-card industry violations of the antitrust laws,” Christopher Jones, an executive committee member of the Merchants Payments Coalition, said in a