Successes

Visa/MasterCard – Antitrust Violations ($2.75 billion)

Constantine Cannon represented Discover Financial Services in this antitrust action alleging Visa and MasterCard violated the antitrust laws through their rules prohibiting U.S. banks from issuing Discover credit and debit cards.  In October 2008, Visa and Mastercard agreed to pay $2.75 billion to settle the matter.  This blockbuster settlement remains one of the top five antitrust settlements in U.S. history.   Read More:  Reuters, Chicago Tribune, Discover.

Visa/MasterCard - Antitrust Violations ($3 billion)

Constantine Cannon served as lead counsel representing Wal-Mart, Sears, Safeway and a class of roughly 5 million U.S. merchants in this antitrust class action alleging various forms of misconduct by Visa and MasterCard in their rules governing the use and marketing of Visa/MasterCard branded credit cards and debit cards.  After winning summary judgment on a majority of the claims, the parties settled the case in May 2003 with the plaintiff merchants Constantine Cannon served as lead counsel representing Wal-Mart, Sears, Safeway and a class of roughly 5 million U.S. merchants in this antitrust class action alleging various forms of misconduct by Visa and MasterCard in their rules governing the use and marketing of Visa/MasterCard branded credit cards and debit cards.  After winning summary judgment on a majority of the claims, the parties settled the case in May 2003 with the plaintiff merchants.