Merchant Advisory on Approval of MasterCard Agreement to Prepay Future Payments at...
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Merchant Advisory on Approval of MasterCard Agreement to Prepay Future
Payments at a Discount
NEW YORK, Aug. 27 /PRNewswire-USNewswire/ -- The following is being released
by APCO Worldwide:
Dear Merchants,
Constantine Cannon LLP and Hagens Berman Sobol Shapiro LLP, Co-Lead Counsel
for United States merchants in the In reVisa Check/MasterMoney Antitrust
Litigation, CV 96-5238, advise Class Members as follows:
The United States District Court for the Eastern District of New York has
approved the Agreement To Prepay Future Payments At A Discount between Lead
Counsel and MasterCard International Incorporated ("MasterCard"), dated July
1, 2009 (the "Prepayment Agreement"), whereby MasterCard will make a single
payment of $335 million in lieu of making its remaining four annual $100
million payments due through 2012. Pursuant to the Prepayment Agreement, Lead
Counsel expects to receive MasterCard's payment on September 30, 2009, and
will thereafter be able to make lump-sum distributions of the residual
MasterCard payments instead of making installment payments over the next four
years of any residual amounts.
The order approving the MasterCard Agreement To Prepay Future Payments At A
Discount and related papers are available at the case website at
www.inrevisacheckmastermoneyantitrustlitigation.com by clicking on the sidebar
option entitled "MasterCard Agreement To Prepay Future Payments At A
Discount." The papers are also available at Lead Counsel's website at
www.constantinecannon.com.
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,
CONSTANTINE CANNON LLP (formerly Constantine & Partners)
Co-Lead Counsel for the Class
Counsel@InReVisacheckMastermoneyAntitrustLitigation.com
HAGENS BERMAN SOBOL SHAPIRO LLP
Co-Lead Counsel for the Class
SOURCE APCO Worldwide
Jason Enzler of APCO Worldwide, +1-202-240-3503
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