Chase Bank USA, N.A. Wins Dismissal of Antitrust Class Action

Skadden secured a dismissal in federal court on behalf of its client Chase Bank USA, N.A. and six other payment card-issuing banks in an antitrust class action. The plaintiffs alleged that payment card networks and seven major card-issuing banks conspired regarding certain payment card network rules and the adoption of EMV (Europay, MasterCard and Visa) chip technology. On September 30, the U.S. District Court for the Northern District of California granted the issuing banks' motion to dismiss, holding that the plaintiffs failed to allege a plausible conspiracy.