A PYMNTS Company

Law Firms Ask Judge To Award $20M In Fees From ATM Antitrust Suit

 |  February 28, 2022

Three law firms representing their respective plaintiffs have asked a federal judge to award more than $20 million in legal fees as part of a $66 million antitrust settlement with banks accused of participating in a scheme to fix ATM charges, reported Ruters.

The attorneys representing ATM operators and consumers presented a petition for fees on Feb. 25, claiming they had invested more than 30,500 hours in the case since 2011, when it was filed in US District Court for the District of Columbia.

The suit presented on behalf of ATM customers alleged that plaintiffs had been made to overpay on surcharges levied for certain ATM services.

Last year a judge in the case approved a settlement with Bank of America, Wells Fargo, and JPMorgan Chase. Two other co-defendants, Visa Inc and Mastercard Inc, are pressing a legal challenge in the U.S. Court of Appeals for the D.C. Circuit.

The class damages exceed $1 billion, according to the three firms seeking fees: Hagens Berman Sobol Shapiro, Quinn Emanuel Urquhart & Sullivan, and Mehri & Skalet. The companies had anticipated requesting up to $22 million in legal fees at the settlement approved by judge Richard Leon.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.