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UK Hi-Fi Retailer Steps Up Swipe Fee Suit Against MasterCard

Law360, London (January 3, 2019, 8:20 PM GMT) -- A major U.K. home entertainment equipment firm is pushing forward with claims against MasterCard over its interchange fees following the Court of Appeal’s landmark finding last year that both MasterCard and Visa set the so-called swipe fees at an unlawfully high level that restricted competition.

Richer Sounds PLC originally filed its suit against MasterCard Inc. in May 2017 but took little action in pursuing the claim until last month, when it filed documents with London’s High Court following the Court of Appeal’s decision in July against MasterCard and Visa Inc.

Richer Sounds said in its Dec. 16 filings that the amount...

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