Gas Stations Can’t Intervene in $5 Billion Visa, Mastercard Deal

Visa Inc., Mastercard Inc. , and a class of 12 million U.S. merchants may press ahead with a multibillion dollar antitrust settlement after the Eastern District of New York denied an objector’s motion to intervene.

The credit card companies will pay between $5.56 and $6.26 billion under the deal, which won preliminary approval in January. Class counsel believes it is the largest cash settlement in antitrust class action history.

Gas station operator Jack Rabbit LLC objected to the deal, arguing that the interests of it and some 140 other “branded operators” were in conflict with those of gas suppliers, ...