DNSO Mailling lists archives


<<< Chronological Index >>>    <<< Thread Index >>>

[registrars] MAF-notify - Important message (fwd)



---------- Forwarded message ----------
Date: Thu, 22 May 2003 20:34:16 +0200 (CEST)
From: MAF-notify <mailinglist@merchantsagainstfraud.com>
To: rick@ar.com
Subject: MAF-notify - Important message

Message from our friends at Merchant911 :

One of our members, that happens to be an attorney, has filed a class
action suit for violation of anti-racketeering laws (among others)
against all four major card companies.  We are not directly
involved as a plaintive but you can bet we're endorsing it.  ALL
merchants are being encouraged to join the class action.

Below is the text of the Law Firm's official Press Release ...

Class Action Lawsuit Filed

The Triangle Law Center, PLLC, a North Carolina based law firm,
announced that it commenced a class action lawsuit in the United
States District Court for the Eastern District of North Carolina on
behalf of all Internet, telephone and mail order merchants against
Visa U.S.A., Inc., MasterCard International, Inc., American Express
Company and Discover Financial Services, Inc (collectively, the
"Defendants").  A copy of the complaint filed in this action is
available from the Court.

The action, numbered 5:03-CV-372-BO(3), is pending in the United
States District Court for the Eastern District of North Carolina
located at 310 New Bern Avenue in Raleigh, North Carolina.  The
Honorable Terrence W. Boyle is the Judge presiding over the case.  To
join this class action litigation as a plaintiff or for further
information, please call Mark W. Ishman, Esq. at (919) 942-1410 or
e-mail mishman@ishmanlaw.com or join the class online at

The complaint charges that Visa, MasterCard and their co-conspirators
(i.e., their issuing and acquiring banks) violated Section 1962(c)
and 1962(d) of the Racketeering Influence and Corrupt Organizations
Act, Section 16 of the Clayton Act, Section 2(a) of the
Robinson-Patman Act and other unlawful business practice violations
by conspiring to commit fraud and theft through means of wire and
mail when processing merchants' Internet, telephone and mail order
transactions.  The complaint alleges that the Defendants breached
their contract, their implied covenant of good faith and fair
dealing, duty of care and fiduciary duty as a banking institution by
failing to take appropriate measures in addressing fraud and theft in
the Internet, telephone and mail order industry.  The complaint
further alleges that Visa and MasterCard failed to disclose certain
supra competitive transactional and penalty fees to Internet,
telephone and mail order merchants and forced such merchants to pay
such supra competitive fees with the abuse of their monopolistic
powers.  Moreover, many of these supra competitive fees were only
stated in their unpublished rules and regulations, which were never
disclosed to merchants at the time of contracting.  Furthermore, the
complaint alleges that in "cybershoplifting" scenarios, there are
virtually no set of facts or documentation in which an Internet,
telephone and mail order merchant could argue to prevent Defendants
from debiting penalty fees from their merchant accounts.  As a result
of these unlawful acts, according to the complaint, Internet,
telephone and mail order merchants have paid virtually all of the
costs associated with fraud and theft in their industry while
Defendants made millions of dollars from their supra competitive
transactional and penalty fees.

If you wish to join the litigation or to discuss your rights or
interests regarding this class action, please contact plaintiffs'
counsel, Mark W. Ishman, Esq. of the Triangle Law Center at (919)
942-1410 or via e-mail at mishman@ishmanlaw.com.  You can also join
this class action online at www.ishmanlaw.com.

The Triangle Law Center www.ishmanlaw.com has expertise in
representing high tech, Internet based companies.  The Triangle Law
Center represents clients throughout the nation and world,
concentrating its practice in Internet, Intellectual Property and
Business law.

Tom Mahoney, Founder/Director

To unsubscribe from: MAF-notify, just follow this link:


Click this link, or copy and paste the address into your browser.

<<< Chronological Index >>>    <<< Thread Index >>>