Case Description
The U.S. Department of Justice and Plaintiff States sought to enjoin the merger between First Data and Concord, alleging that the merger would substantially lessen competition in the financial services market. In order to consummate the merger, the parties entered a settlement agreement in which First Data divested all of its interests in the NYCE Corporation. The Plaintiff States and the DOJ claimed that such divestiture was necessary to ensure a viable, competitive financial services market. First Data also agreed to pay costs of the investigation and attorneys fees in the amount of $550,000.