US: MLB’s Twins team takes swing at new swipe-fee suit

Minnesota’s Major League Baseball team the Twins have reportedly filed its own antitrust lawsuit against credit card giants Visa and MasterCard after the team opted out of a mult-billion dollar settlement with merchants over swipe-fees.

The Twins are only the latest of the parties to have opted out of the $5.7 billion settlement offered to end litigation against the credit card companies for the interchange fees, which are charged by banks to merchants for use of a credit card.

Thousands of merchants reportedly opted out of the settlement offer, which once stood at a record-setting $7.25 billion, with plans to pursue their own legal action against the companies.

The Twins filed their own lawsuit, along with other local businesses, late last week in Brooklyn; reports say the plaintiffs did not specify the damages they are seeking, however.

A Twins spokesperson amounted the law suit to nothing much more than a technicality, however, and a legal obligation following the opting-out of the settlement.

”We’ll see what happens,” the spokesperson said.

Full Content: Star Tribune

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