NEW YORK: Dozens of retailers are
seeking to void nearly US$6 billion of U.S. antitrust settlements with Visa Inc
, MasterCard Inc and American Express Co after learning that opposing lawyers
exchanged confidential information, potentially tainting the accords.
A group of retailers filed papers
that remain under seal in the Brooklyn, New York federal court to scuttle their
US$5.7 billion accord with Visa and MasterCard, which won court approval in
2013, the retailers' lawyer Owen Glist said in an email.
Similar papers were made public
in the American Express case on Wednesday in the same court, where retailers
opposing the US$79 million accord include Wal-Mart Stores Inc , Target Corp and
Home Depot Inc among others.
$5.2B
class action lawsuit launched against Fiat Chrysler in Canada
Regina lawyer Tony Merchants' firm has launched
a class action lawsuit for $5.2 billion against Fiat Chrysler.
Earlier this week, the
U.S. National Highway Traffic Safety Administration fined the auto
maker a record $105 million for poorly executing 23 vehicle
safety recalls covering more than 11 million defective vehicles over several
years.
As part of that deal, Fiat Chrysler
has been ordered to fix or buy back 500,000 Ram pickup trucks and 1.5
million Jeeps that that might be vulnerable in rear-end collisions.
Appeals
court clears way for class-action lawsuit against PNC
An apparently weary appeals court Wednesday upheld a federal judge's 2013 decision that about 22,000 borrowers can pursue a class-action claim of more than $1 billion against PNC Bank.
An apparently weary appeals court Wednesday upheld a federal judge's 2013 decision that about 22,000 borrowers can pursue a class-action claim of more than $1 billion against PNC Bank.
The case centers on the dealings of
Community Bank of Northern Virginia, which was based in Sterling, Va. PNC
assumed the liability for the class-action lawsuit when it bought Mercantile
Bankshares Corp. in 2006, a year after that Baltimore-based bank bought
Community Bank.
The 3rd U.S. Circuit Court of Appeals in
2005 and 2010 overturned proposed settlements in the case based on objections
from a substantial number of the affected borrowers.
U.S. District Judge Arthur Schwab in
2013 certified the class of borrowers who can take their claims to trial. PNC
appealed that decision to the 3rd Circuit, which denied the appeal Wednesday.
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