Case Details

Year Initiated/Committed

2003

Year Resolved

2003

Settlement Amount

$550,000 costs

Court

U.S. District Court for the District of Columbia

Docket Number

1:03CV02169

Lead State

DC, OH, TX

Participating States

CT, DC, IL, LA, MA, NY, OH, OR, PA, TX

Defendant(s)

First Data Corporation and Concord EFS, Inc

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.