Update include more lawsuit details.MasterCard ( MA) plans to pay $335 million by the end of the third quarter to pay off the rest of its settlement of a class action suit alleging the electronic payments company violated federal antitrust regulations. The Purchase, N.Y.-based company settled the suit in June 2003 with a number of U.S. merchants that took issue with certain antitrust aspects of the payment card industry. Under the settlement, MasterCard was required to pay $125 million in 2003 and $100 million annually each December from 2004 through 2012. Retailers, including Wal-Mart Stores ( WMT), brought an antitrust suit against MasterCard and Visa ( V) in 1996. They claimed that the associations violated antitrust laws by "tying acceptance of debit to
The companies agreed to final settlements in the past year. MasterCard were up fractionally in recent trading.