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Mastercard logoMastercard MA

The company said it and its operating subsidiary, Mastercard International Incorporated, entered into a Class Settlement Agreement with court-appointed counsel for an injunctive rules relief class of merchants in a Form 8-K (Item 8.01) filed on March 26, 2024.

8-K/AOther Events (amended)Amended filingFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said it and its operating subsidiary, Mastercard International Incorporated, entered into a Class Settlement Agreement with court-appointed counsel for an injunctive rules relief class of merchants in a Form 8-K (Item 8.01) filed on March 26, 2024.

  2. The company said in the Original Report that the settlement was meant to resolve merchants' claims related to business practices, including network rules, and was subject to final approval by the Eastern District Court of New York.

  3. The company said in this amended report (Item 8.01) that the Eastern District Court of New York formally rejected the Agreement on June 25, 2024.

  4. Mastercard amended the Original Report filed on March 26, 2024 on Form 8-K/A to add the court's rejection of the settlement, and Corporate Secretary Adam Zitter signed the report on June 28, 2024.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Mastercard Enters Class Settlement Agreement on March 26, 2024

The company said it and its operating subsidiary, Mastercard International Incorporated, entered into a Class Settlement Agreement with court-appointed counsel for an injunctive rules relief class of merchants in a Form 8-K (Item 8.01) filed on March 26, 2024.

Source · Based on the filing body and exhibits

Merchant Claims Covered and Conditions for Court Final Approval

The company said in the Original Report that the settlement was meant to resolve merchants' claims related to business practices, including network rules, and was subject to final approval by the Eastern District Court of New York.

Source · Based on the filing body and exhibits

Court Rejects Settlement on June 25, 2024

The company said in this amended report (Item 8.01) that the Eastern District Court of New York formally rejected the Agreement on June 25, 2024.

Source · Based on the filing body and exhibits

Purpose of Form 8-K/A Amendment and Filing Date

Mastercard amended the Original Report filed on March 26, 2024 on Form 8-K/A to add the court's rejection of the settlement, and Corporate Secretary Adam Zitter signed the report on June 28, 2024.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.