Merchant Advisory on Approval of Visa Agreement to Prepay Future Payments at a Discount

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Mon Oct 5, 2009 5:09pm EDT

Merchant Advisory on Approval of Visa Agreement to Prepay Future Payments at a
Discount





NEW YORK, Oct. 5 /PRNewswire/ -- The following was issued today by Constantine
Cannon LLP:


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:


On October 2, 2009, the United States District Court for the Eastern District
of New York approved the Agreement To Prepay Future Payments At A Discount
between Lead Counsel and Visa U.S.A. Inc. ("Visa"), dated August 31, 2009 (the
"Prepayment Agreement"), whereby Visa will make a single payment of $682
million in lieu of making its remaining four annual $200 million payments due
through 2012.  Pursuant to the Prepayment Agreement, Lead Counsel expects to
receive Visa's payment on October 5, 2009, and will thereafter be able to make
lump-sum distributions of the residual Visa payments instead of making
installment payments over the next four years of any residual amounts.


The order approving the Visa Agreement To Prepay Future Payments At A Discount
and related papers are available by clicking on the link provided here or at
the case website at www.inrevisacheckmastermoneyantitrustlitigation.com by
clicking on the sidebar option entitled "Visa 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  Constantine Cannon LLP

Jason Enzler, +1-202-204-3500, for Constantine Cannon LLP
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