Visa Mastercard Claim

Monetize Your Company’s Visa Mastercard Litigation Today

Merchants who accepted Visa or Mastercard between 2004 and 2019 may be an eligible member of the class in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation (the Visa Mastercard litigation).  Your claim in this litigation may be a valuable yet unrealized asset for your company. Lake Whillans can unlock that value and provide your company with immediate capital.  For an estimate of the sale value of the claim today, please use the Claims Calculator below, or contact us by email or by phone at (646) 389-1032 to discuss this opportunity further.

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Understanding the Visa Mastercard Litigation

Overview

The Payment Card Interchange Fee and Merchant Discount Antitrust Litigation is a United States class action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit alleges price fixing and other anti-competitive trade practices in the credit card industry. A proposed settlement received preliminary approval from the judge overseeing the case in November 2012, but was ultimately overturned by the appellate court.

The New Proposed Settlement

A new settlement proposal for between $5.54–$6.24 billion was preliminarily approved by the court in January 2019. Under the proposed settlement, merchants who accepted Visa or Mastercard anytime from January 1, 2004 to January 25, 2019 will be entitled to settlement proceeds.

Under the terms of the proposed settlement, an individual merchant’s entitlement would be determined by a number of factors that include: (i) interchange fees paid by the merchant during the relevant period, (ii) the number of opt-outs to the class, (iii) claim submission rates by the class, and (iv) legal and administrative fees to be paid from the settlement fund.

Timing for any payment is uncertain and may take several years. A number of steps must first occur. Currently, class members have an opportunity to file objections to the settlement. The district court where the case is pending will consider those objections and conduct a fairness hearing in November 2019 before granting necessary final approval. Assuming the district court orders final approval, it is likely that the court’s order will be appealed by those objecting to the settlement, a process that is likely to take many months to complete. Only if and after the appeals have been resolved in favor of approving the settlement, will class members be given a date by which to submit claims, and only after the claims filing deadline passes will the payment calculation and payout process begin.

For the full terms of the Settlement, you should look at the Superseding and Amended Definitive Class Settlement Agreement of the Rule 23(b)(3) Class Plaintiffs and the Defendants and its Appendices (the “Class Settlement Agreement”), available here.

Accelerating Monetization

How It Works

Lake Whillans will purchase your company’s entitlements to any proceeds that you may receive from the Visa Mastercard class action. This enables your company to receive payment today rather than waiting to receive an uncertain amount on an uncertain date in the future. We will submit the claims on your behalf and work directly with class administrators to secure payment. The effort required on your part is minimal.

The Process

  1. Based on your company’s revenues, we can quickly provide an estimated amount we would be willing to pay for future amounts your company may receive for its Visa Mastercard claim.
  2. If you and Lake Whillans are mutually interested in pursuing a transaction based on that estimate, we will enter a non-disclosure agreement and request more specific information including revenues derived from credit card transactions or interchange fees paid during the relevant period.
  3. Lake Whillans will then make a firm proposal to purchase some or all of your company’s claim entitlements.
  4. If you accept the offer, we document and execute the transaction.

Interested in discussing your claim further?

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About Lake Whillans

Lake Whillans is a commercial litigation finance firm providing funding for companies in litigation or arbitration.

Lake Whillans is a private equity fund that focuses on investing in legal-claim related assets. We have been investing in this fashion since 2013, and hold our investments in a broad-based portfolio that allows us to better manage the idiosyncratic risk typically associated with litigation or arbitration. To learn more about our company, please see our brochure.

 


 

** Please be advised that claim forms for the Visa Mastercard settlement are not yet available. Class members need not sign up for any third-party filing service or enter into a transaction with Lake Whillans or any other third-party in order to participate in any monetary relief. No-cost assistance for claims filing will be available from the Class Administrator and Class Counsel during the claims filing period. For further information about the settlement you may visit the official Court-approved website at www.paymentcardsettlement.com. Lake Whillans has no affiliation with Class Counsel or the Class Administrator and will discuss potential monetization of claims as a third-party otherwise unaffiliated with the case.

Experts In Legal Funding

Established in 2013, Lake Whillans is a commercial litigation finance firm investing in meritorious commercial claims (whether in litigation, arbitration or insolvency proceedings) with realistic damages in excess of $20 million that are prosecuted by premier lawyers.

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