Visa and Mastercard settle antitrust suit News
Visa and Mastercard settle antitrust suit

[JURIST] Visa Inc. and Mastercard Inc. [corporate websites] on Monday settled an antitrust suit with Discover Financial Services [corporate website] for $2.75 billion. Under the settlement, $1.8875 billion was apportioned to Visa [press release] and $862.5 million to Mastercard [press release] under a judgment-sharing agreement. This settlement is the result of a 2004 lawsuit filed by Discover after a US Department of Justice [official website] suit [opinion, text; complaint, text] determined Visa and Mastercard were in violation of section 1 of the Sherman Antitrust Act [text] by prohibiting banks from using Discover's services. Reuters has more.

American Express [corporate website] recently finalized antitrust settlements with Visa and Mastercard [press releases] for $2.25 billion and $1.8 billion, respectively, that arose out of a similar complaint [JURIST report]. Visa and Mastercard were involved in another antitrust suit [JURIST report] in 2005 regarding interchange fees.

THIS DAY @ LAW

UN Security Council called for Israeli withdrawal from territories occupied in Six Days' War

On November 22, 1967, the UN Security Council called for Israeli withdrawal from territories occupied during the Six Days' War, and for respect of the right of all States in the area to "live in peace within secure and recognized boundaries." Read Resolution 242, which remains a cornerstone of efforts to achieve peace in the Middle East.

President Kennedy assassinated, VP Lyndon Johnson sworn inin

On November 22, 1963, President John F. Kennedy was assassinated in Dallas, Texas. Later that day, Vice-President Lyndon Johnson was sworn in as the 36th President of the United States. Earl Warren, the Chief Justice of the Supreme Court, was later tasked with leading a commission to investigate the assassination. President Johnson received the final report of the Warren Commission on September 24, 1964. Read the Warren Commission Report.