In an opinion piece published today in The Times, ILR President Lisa Rickard praised UK judges for reject what would have been a massive class action against MasterCard. Rickard called the suit an example of class action “overreach.”
The lawsuit sought £14 billion on behalf of anyone over 16 years of age that purchased something from a business accepting MasterCard over a 16-year period. This was estimated to be about 70 percent of the British population. It was thrown out by the new Competition Appeal Tribunal, designed to examine class actions before they proceed, because the damages would have been far too difficult to calculate over the entire class.
Rickard said this case “demonstrates the value of gatekeeping at the front end of collective actions.”