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The Honorable John Gleeson granted preliminary approval to the settlement by order date November 27, 2012 in In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL Docket No. 1720 (JG)(JO).

Law360, New York (November 09, 2012, 5:13 PM ET) -- A New York federal judge on Friday gave preliminary approval to Visa Inc. and MasterCard Inc.'s proposed $7.25 billion multidistrict litigation settlement over the companies' alleged collusion on interchange fees, paving the way for arguably the largest antitrust settlement in U.S. history.

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