A three-judge panel from the U.S. Court of Appeals for the Second Circuit heard arguments Monday on whether to strip class-action status from the lawsuit filed by a group of retailers against Visa and MasterCard but made no ruling.

The judges can issue a decision at their discretion on a ruling by U.S. District Judge John Gleeson that the case initiated by Wal-Mart Stores Inc., Sears, Roebuck and Co., and many other retailers should be a class action.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.