UPDATE
VISA/MASTERCARD SETTLEMENT

We’ve traditionally held off on sending updates unless there was meaningful news to report. Due to a measured increase in client inquiries, we wanted to provide a brief update despite there having been little change in the status of the case.

While the “claim period” officially ended on February 4, 2025, the Claims Administrator (EPIQ) is still processing a large volume of claims, including many from Brownstone clients. We have been diligently responding to all claim challenges and updating our records accordingly. There is no published estimate for how long this will take or how many claims are still pending.

There is no published estimate for how long this processing will take or how many claims are still pending. Until the Claims Administrator completes their work and all claims are reviewed and approved; no payout amounts can be calculated or distributed. Brownstone Recovery will continue to monitor the case closely and will provide additional updates as new information becomes available.

Important Note: If you have any updates/changes to your contact detail, please call: (877) 202-2454

SUMMARY

CLASS PERIOD: January 1, 2004 – January 25, 2019

FINAL APPROVAL: December 13, 2019

SIGNIFICANT DEVELOPMENTS: Assignment of Special Master for Administration & Distribution

COURT APPOINTED CLASS ADMINISTRATOR: EPIQ

AVAILABLE FUNDS: $5.54 billion

CLAIM FILING: PERIOD ENDED Final Date: February 4, 2025

PAYOUT FACTORS:
Total Funds Available to pay all claims, Total Dollar Value of all Valid Claims, Cost of Class Administration & Notices,
Attorneys’ Fees and Expenses, Applicable taxes on settlement fund, Money to Rule 23(b)(3) Class Plaintiffs

FINAL PAYMENT DATE: TBD by Special Master

UPDATE DISCOVER CARD
CLASS ACTION SETTLEMENT

NEW OPPORTUNITY: Discover Card Class Action

Brownstone is pleased to share that a new settlement involving Discover Card has been announced with enrollment requirements very similar to the VISA/MasterCard suit. Even if your Discover volume has been modest, we strongly encourage you to have us file a claim on your behalf.

We are finalizing a streamlined enrollment process that will use the information we already have on file to make this as easy as possible. We expect to open enrollment within the next 4–6 weeks, well ahead of any claim filing deadlines.

Disclaimer: Claim forms are not yet available. Class members need not sign up for a third-party service to participate in any
monetary relief. No-cost assistance is available from the Class Administrator and Class Counsel during the claims -filing
period. Additional information regarding the litigation is available at http://www.discovermerchantsettlement.com.

SUMMARY

U.S. DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS | CASE NO. 1:23-CV-4676

CLASS PERIOD: January 1, 2007 – December 31, 2023

SETTLEMENT CLASS:
Refer to the Settlement Agreement for complete definitions. All End Merchants, Merchant Acquirers, and Payment Intermediaries involved in processing or accepting a Misclassified Card Transaction during the period from January 1, 2007, through December 31, 2023.

OPT-OUT DATE: March 25, 2026

CLAIMS FILING DEADLINE: May 18, 2026

COURT APPOINTED CLASS ADMINISTRATOR: EPIQ (same as VISA/MasterCard)

AVAILABLE FUNDS: $1.22 billion

ENROLLMENT REQUIREMENTS: If you are eligible, you’ll be notified directly by the settlement administrator. You may also file a claim proactively with supporting documentation to maximize your recovery. Merchants who do nothing will still be bound by the settlement but may receive a payment if eligible.

CASE SUMMARY: Settlement relates to claims that Discover misclassified card transactions that may have resulted in merchants being charged higher fees.

FINAL PAYMENT DATE: TBD by Special Master