American Express Travel Related Services Company, Inc. v. Visa U.S.A. Inc.; Discover Financial Services, Inc. v. Visa U.S.A. Inc.
Our attorneys are defending Visa USA in actions that American Express and Discover filed in October and November 2004, asserting injury from the former loyalty rules of Visa and MasterCard that were enjoined in a prior Department of Justice action. The plaintiffs allege that Visa USA implemented and enforced illegal exclusionary agreements requiring any US bank that issued Visa general-purpose cards to refuse to issue American Express and Discover cards. American Express and Discover are seeking unspecified damages in the billions of dollars, making these cases among the largest non-class antitrust litigation matters ever brought. The complaints assert claims under Sherman Act § 1 and § 2 against Visa, Visa International, MasterCard and several major banks. The trial court granted some aspects of the defendants' motions to dismiss in 2005 and those actions are now in active discovery.