MoginRubin LLP has secured class certification on behalf of independent ATM operators, non-bank affiliated ATM operators and the National ATM Council
U.S. District Judge Richard J. Leon on August 4 granted class certification, deeming that numerosity, commonality and typicality are clearly met in this case, and that the lead plaintiffs represent the interests of the class, fully satisfying the necessary requirements under Federal Rule of Civil Procedure 23.
WASHINGTON, Aug. 9, 2021 /PRNewswire-PRWeb/ -- MoginRubin LLP has secured class certification on behalf of independent ATM operators, non-bank affiliated ATM operators and the National ATM Council.
U.S. District Judge Richard J. Leon on August 4 granted class certification, deeming that numerosity, commonality and typicality are clearly met in this case, and that the lead plaintiffs represent the interests of the class, fully satisfying the necessary requirements under Federal Rule of Civil Procedure 23.
The class of non-bank, independent ATM operators, representing 60% of U.S. ATMs, allege injury by price-fixing practices and restrictions in Visa and Mastercard's network rules which raise ATM transaction costs for customers and inflate the fees imposed on independent ATM operators. The lawsuit alleges that the rules violate the Sherman Act's prohibition on unreasonable restraints of trade.
MoginRubin LLP partner, Jonathan Rubin, co-lead counsel in the long-standing litigation, said, "Rules adopted by the member banks of Visa and Mastercard have stifled competition between ATM networks for years, inflating prices for ATM Operators and consumers alike. Today's ruling marks a significant step toward loosening the grip of Visa and Mastercard on the market for ATM network services. The litigation promises to benefit all independent ATM Operators as well as millions of cardholders who depend on U.S. independent ATMs every day."
The attorneys who secured this excellent result on behalf of the class are Jonathan Rubin, co-lead counsel Daniel Mogin, Jennifer Oliver, and Joy Sidhwa of MoginRubin LLP.
National ATM Council, Inc. et al., v. Visa Inc., et al., No. 1:11-cv-01803-RJL, in the U.S. District Court for the District of Columbia.
About MoginRubin LLP
MoginRubin LLP is an award-winning antitrust and competition law firm with more than $7 billion in recoveries. Prepared to meet today's most demanding challenges in litigation, strategic counseling, and policy advocacy, our legal and economic expertise is built by litigating some of the nation's high-stakes landmark cases. For more information, visit http://www.moginrubin.com.
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