During the company's earnings conference call, MasterCard CEO Ajaypal Banga updated the status of the price-fixing class-action suit pending against MasterCard and Visa
While there has been progress with the individual merchant plaintiffs, that is not the case with class plaintiffs who have made a “significantly higher demand, which are unacceptable to MasterCard.”
However, “based on developments in the mediation process, "MasterCard has extrapolated an estimate of a reasonably possible loss of at least $500 million if there is a negotiated settlement with all plaintiffs.”
