2012-11-12 —

Visa Inc. (V) and MasterCard Inc. (MA)'s proposed $7.25 billion settlement of a merchant fee price-fixing case won preliminary approval from a federal judge in Brooklyn, New York.

U.S. District Judge John Gleeson made his ruling in court yesterday after considering arguments by retailers opposed to the deal. The judge's decision allows plaintiffs to begin signing up more than 7 million retailers that might be eligible to participate. The settlement will be subject to a final approval at a later date.

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