In re Payment Card Interchange Fee and Merchant Discount Litigation, 05-MD-1720 (JG)(JO): Reached a $7.25 billion proposed antitrust settlement on behalf of a class of approximately seven million U.S. merchants who accept Visa and MasterCard credit cards and debit cards for the purchase of goods and services. The defendants included Visa and MasterCard, and major card-issuing banks such as JPMorgan Chase, Bank of America, Citibank, Wells Fargo, and Capital One. The settlement, which resolves the lawsuit, is believed to be the largest settlement of a private antitrust case in the 120-year history of the Sherman Act (15 U.S.C. §1 et seq.) and also includes important reforms of the payment card industry.