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Leading financial services organizations look to our firm for representation in major antitrust disputes no matter where those disputes arise and no matter what types of financial institutions are involved. Recent representations cover a diverse range of financial services including municipal derivatives products, ATM and credit card interchange, and secondary mortgage transactions. Our lawyers bring to bear an in-depth understanding of financial institutions and their regulatory schemes, as well as impressive expertise in antitrust law, class action and arbitration procedure, trial practice, electronic discovery, criminal investigations, and all other aspects of major antitrust litigation.
Representative Matters
- Representation of JPMorgan Chase in multi-billion dollar antitrust litigation brought by American Express against Chase, Visa, MasterCard, and other major credit card issuers. The case settled on terms favorable to Chase in November 2007.
- Representation of Bank of America in In re ATM Fee Antitrust Litigation, a putative nationwide class action challenging interchange fees on ATM transactions. On March 24, 2008, the district court granted a partial summary judgment dismissing plaintiffs’ claims that the fees in question constitute a per se violation of the antitrust laws.
- Representation of a leading investment bank in ongoing investigations by the Antitrust Division and the SEC involving alleged bid-rigging in the municipal derivatives market.
- Representation of Wells Fargo in a putative class action challenging certain credit card fees on antitrust and other grounds. The district court dismissed the Complaint on November 16, 2007, and plaintiffs have appealed.
- Representation of Bank One and its successor JPMorgan Chase in In Re Foreign Currency Conversion Fee Antitrust Litigation, an MDL class action proceeding alleging antitrust violations relating to the price at which foreign currency is converted into dollars in connection with credit card purchases made in foreign currencies. Following motions practice that resulted in the exclusion of all of Bank One’s cardholders from the class, the case settled on favorable terms.
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