Discover, Visa and MasterCard settle antitrust suit

from: http://biz.yahoo.com/rb/081014/business_us_creditcards_discover.html

NEW YORK (Reuters) - Discover Financial Services Inc (NYSE:DFS - News) and card networks Visa Inc (NYSE:V - News) and MasterCard Inc (NYSE:MA - News) have settled an antitrust lawsuit, sending shares of the fourth-biggest U.S. credit card company up over 14 percent.

In 2004, Discover had filed a lawsuit against MasterCard and Visa seeking roughly $6 billion in damages, as it contended the card networks had harmed its business by preventing their member banks from issuing credit cards for Discover’s network.

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