SAN FRANCISCO — Lawyers at Robbins Geller Rudman & Dowd and Florida-based Devine Goodman Rasco & Watts-FitzGerald have filed an antitrust lawsuit claiming that major credit card companies and the nation’s largest banks conspired to shift liability for fraudulent credit card transactions in the U.S. to merchants.
The complaint filed in U.S. District Court for the Northern District of California on Tuesday claims that the move to cards that include electronic chips designed to be more secure—so-called EMV chips—has been plagued by technical glitches and used as cover to illegally shift fraud-protection costs.
