Discover settles Morgan Stanley suit for $775 million

NEW YORK (Reuters) - Discover Financial Services (DFS.N) paid Morgan Stanley (MS.N) $775 million to settle claims related to sharing proceeds from an antitrust suit against credit card networks Visa Inc (V.N) and MasterCard Inc (MA.N), according to a regulatory filing on Friday.



The settlement came after Discover won $2.75 billion in a separate suit which accused the rival card networks of harming its business by preventing banks that issue MasterCard and Visa cards from also issuing Discover cards.

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