MasterCard (MA), Visa (V) Said to be Told Antitrust Suit Should be Thrown Out

MasterCard (NYSE: MA), Visa (NYSE: V) said to be told suit should be thrown out, according to the WSJ.

UPDATE - According to the report, lawyers for about 100 merchants are looking to have the $6 billion suit thrown out, claiming that opposing lawyers in the case exchanged confidential information.

The WSJ noted that lawyers served Visa and MasterCard with legal papers that outlined their plans. The action set in motion a process that would potentially unravel a 2013 settlement. Those papers won't be filed in court until the card networks respond, according to court procedures.

Specifically, the case revolves around communications between a former Willkie Farr & Gallagher LLP attorney and Gary Friedman, of Friedman Law Group, who represented merchants.

For more color on the case, click here.

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