Jay Fastow
Jay Fastow

Jay N. Fastow

Partner

fastowj@ballardspahr.com
Tel 646.346.8049
Fax 212.223.1942
New York

An experienced trial lawyer, Jay Fastow is the Leader of the firm's Loss Recovery Group, and has successfully handled many important antitrust and commercial litigations. These accomplishments include acting as lead trial and appellate counsel for plaintiffs in the ZF Meritor v. Eaton antitrust case, which settled in 2014 for $500 million.

Mr. Fastow has been recognized by The Best Lawyers in America as New York City Litigation – Antitrust “Lawyer of the Year,” and by American Antitrust Institute as a Finalist for its Award for Outstanding Antitrust Litigation Achievement in Private Law Practice. Chambers USA names him as one of the leading plaintiff antitrust lawyers nationwide.

Representative Antitrust and Commercial Litigations

International Cards Co. v. MasterCard International (S.D.N.Y) (trial in 2017) (in progress) (Representing defendant/counterclaimant MasterCard with respect to, inter alia, a claim that MasterCard had breached the parties' contract by terminating plaintiff's MasterCard membership; after the court dismissed plaintiff's termination claim on summary judgment, the parties tried to a jury plaintiff’s claim for return of collateral, and MasterCard’s counterclaims.)

Eisai, Inc. v. Sanofi-Aventis US, LLC, et al., 821 F. 3d 394 (3d Cir. 2016) (Represented on appeal plaintiff Eisai in this pharmaceutical industry antitrust case after the District Court had granted summary judgment against its claims.)

ZF Meritor, LLC, et al. v. Eaton Corporation, 696 F.3d 254 (3d Cir. 2012) (Represented plaintiffs in an antitrust case involving anticompetitive conduct in the sale of heavy-duty truck transmissions. In a bifurcated trial on liability, the jury found for plaintiffs. The district court subsequently awarded plaintiffs no damages. After the Third Circuit upheld the jury verdict, and reversed and remanded with regard to damages, the matter settled in 2014 for $500 million.)

Kendall et al. v. Visa U.S.A. Inc., et al., 518 F.3d 1042 (9th Cir. 2008) (Obtained Rule 12(b)(6) dismissal of antitrust claims by merchants against MasterCard International Incorporated relating to payment card interchange; district court dismissal affirmed by Ninth Circuit.)

Van Deventer, et al. CS SCF Management, Ltd., et al., (New York County, NY) (filed Oct. 2003) (Represented Credit Suisse-affiliated defendants in three-week jury trial in 2007 in New York state court in litigation relating to, inter alia, alleged breach of investment fund consulting agreement; during trial, court dismissed most of plaintiff's damages claim; case settled after trial.) 

Reyn’s Pasta Bella, LLC v. Visa U.S.A., Inc., 442 F.3d 741 (9th Cir. 2006) (Obtained dismissal of antitrust claims relating to payment card interchange, in light of prior class settlement; district court dismissal affirmed by Ninth Circuit.)

Paycom Billing Services, Inc. v. MasterCard International Incorporated, 467 F.3d 283 (2d Cir. 2006) (Successfully moved to dismiss antitrust claims against MasterCard International relating to payment card "chargebacks." Second Circuit affirmed the district court decision dismissing the case.)

PSW, Inc. v. Visa USA, Inc., No. C.A. 04-347T, 2006 WL 519670 (D.R.I. Feb. 28, 2006) (Obtained rule 12(b)(6) dismissal of antitrust claims relating to, inter alia, chargeback rules and policies.)

In re Currency Conversion Fee Antitrust Litig., 265 F. Supp. 2d 385 (S.D.N.Y. 2003); In re Currency Conversion Fee Antitrust Litig,, 361 F.Supp.2d 237 (S.D.N.Y. 2005); In re Currency Conversion Fee Antitrust Litig., 263 F.R.D. 110 (S.D.N.Y. 2009) (Obtained district court decision enforcing arbitration provisions in cardholder agreements as to payment card network on grounds of equitable estoppel; proposed class settlement approved by court.)

MFS Securities Corp. v. NYSE, 142 Fed. Appx. 541 (2nd Cir. Sep 7, 2005) (Obtained dismissal of antitrust claims alleging that NYSE had improperly terminated MFS as a member organization; district court dismissal affirmed by Second Circuit.)

Frydman & Co. v. Credit Suisse First Boston Corp., 1 A.D.3d 274, 768 N.Y.S.2d 440 (N.Y. A.D. 1 Dept, Nov. 25, 2003) (Obtained summary judgment for defendants in "failed acquisition" case, on grounds of lack of causal injury; trial court judgment affirmed by Appellate Division.) 

In re Stock Exchanges Options Trading Antitrust Litig., 317 F.3d 134 (2d Cir. 2003) (Obtained summary judgment in favor of NYSE on grounds of implied repeal of the antitrust laws after other defendants had agreed to settle the case; district court judgment affirmed by Second Circuit.)

In re Nasdaq Market-Makers Antitrust Litig., 1998-2 Trade Cases ¶ 72,337 (RWS), M.D.L. No. 1023 (S.D.N.Y. 1998) (Defended against (including acting as a co-liaison counsel for defendants) claims of fixing of spreads on certain Nasdaq securities.)

Go-Video, Inc. v. Matsushita Electric Industrial Co., Ltd. et al., CIV-90 1864 PHX RCB, 15 F.3d 1085 (9th Cir. 1994) (Represented Matsushita and other defendants against allegations that Matsushita’s acquisition of MCA violated Section 7 of the Clayton Act and Sections 1 and 2 of the Sherman Act; district court dismissed case on the pleadings; affirmed by Ninth Circuit.)

Go-Video, Inc. v. Matsushita Electric Industrial Co., Ltd. et al., 977 F.2d 588 (9th Cir. 1992) (Represented defendants Matsushita and Victor Company of Japan against claims of group boycott relating to dual-deck VCRs; two-month jury trial ended with verdict in favor of defendants; affirmed by Ninth Circuit.)

Harris v. Duty Free Shoppers Limited Partnership, 940 F.2d 1272 (9th Cir. 1991) (Represented defendant Duty Free Shoppers against allegations of commercial bribery under Robinson-Patman Act and California law; Ninth Circuit affirmed district court’s dismissal of the case on summary judgment.)

Gregory Marketing Corp. v. Wakefern Food Corp., 787 F.2d 92 (3d Cir. 1986) (Represented defendant Wakefern against claim of alleged violation of Robinson-Patman Act; Third Circuit affirmed district court’s dismissal of the case on the pleadings.)

Sakamoto v. Duty Free Shoppers, Ltd., 764 F.2d 1285 (9th Cir. 1985) (Represented defendant Duty Free Shoppers against antitrust challenge to airport merchandise concession, including claims of group boycott; Ninth Circuit affirmed district court’s dismissal of the case on summary judgment.)

Representative Financial Services Cases

Automobile Finance

ECOA:

Coleman v. General Motors Acceptance Corp., 296 F.3d 443 (6th Cir. 2002) (Obtained reversal by Sixth Circuit of class certification under Rule 23(b)(2) in Equal Credit Opportunity Act case concerning automobile financing practices.)

Payment Cards

Interchange:

Kendall et al. v. Visa U.S.A. Inc. et al., 518 F.3d 1042 (9th Cir. 2008) (Obtained Rule 12(b)(6) dismissal of antitrust claims by merchants against MasterCard International Incorporated relating to payment card interchange; district court dismissal affirmed by Ninth Circuit.)

Reyn’s Pasta Bella, LLC v. Visa U.S.A., Inc., 442 F.3d 741 (9th Cir. 2006) (Obtained dismissal of antitrust claims relating to payment card interchange, in light of prior class settlement; district court dismissal affirmed by Ninth Circuit.)

Currency Conversion:

In re Currency Conversion Fee Antitrust Litigation, 265 F. Supp. 2d 385 (S.D.N.Y. 2003); In re Currency Conversion Fee Antitrust Litigation, 361 F.Supp. 2d 237 (S.D.N.Y. 2005); In re Currency Conversion Fee Antitrust Litigation, 263 F.R.D. 110 (S.D.N.Y. 2009) (Obtained district court decision enforcing arbitration provisions in cardholder agreements as to payment card network on grounds of equitable estoppel; proposed class settlement approved by court.)

Schwartz v. Visa Int’l Service Assoc., 132 Cal. App. 4th 1452 (1st. Dist. 2005) (Served as lead counsel in five-month trial of claims under California’s Unfair Competition Law concerning payment card currency conversion practices. Obtained reversal on appeal of adverse portion of trial court decision.)

Chargebacks:

Paycom Billing Services, Inc. v. MasterCard International Incorporated, 467 F.3d 283 (2d Cir. 2006) (Successfully moved to dismiss antitrust claims against MasterCard International relating to payment card "chargebacks." Second Circuit affirmed the district court decision dismissing the case.)

PSW, Inc. v. Visa USA, Inc., No. C.A. 04-347T, 2006 WL 519670 (D.R.I. Feb. 28, 2006) (Obtained rule 12(b)(6) dismissal of antitrust claims relating to, inter alia, chargeback rules and policies.)

Unsolicited Issuance:

Garner v. Capital One Bank and MasterCard International, Inc., No. CV-01-BU-0712-S (N.D. Ala. 2001) (Obtained Rule 12(b)(6) dismissal of Truth in Lending Act and civil conspiracy claims against payment card network relating to alleged unsolicited issuance of cards.

Internet Gambling:

In re MasterCard Int’l Inc. Internet Gambling Litig., 313 F.3d 257 (5th Cir. 2002) (Served as liaison counsel for defendants in federal multidistrict litigation asserting RICO and state law claims relating to payment cards and alleged Internet gambling. Obtained Fifth Circuit decision affirming district court dismissal of RICO claims under Rule 12(b)(6).)

Reuter v. MasterCard International Incorporated, No. 2000-L-8 (Ill. Cir. Ct.) (Successfully moved to dismiss case brought under Illinois state law against payment card networks and issuers relating to Internet gambling.)

Bouressa v. Associates Credit Card Services, Inc., No. 00-5456, slip op. (162nd Judicial District Court, Dallas County, Mar. 9, 2001) (Obtained dismissal of case asserting claims under Texas law related to alleged Internet gambling and payment cards, on grounds of plaintiffs’ failure to join Internet casinos as indispensable parties.)

FACTA:

King v. Movietickets.com, No. 07-2219-CIV-Gold/Turnoff (S.D. Fla. 2008) (Argued successful Rule 12(b)(6) motion to dismiss claim under Section 113 of the Fair and Accurate Credit Transactions Act relating to alleged inclusion of card expiration dates on email order confirmations. (Leave to amend granted.)














Professional Activities

Author, Chapter on Section 2 of The Sherman Act, Antitrust Advisor, update in progress

Co-author, The Federal Antitrust Laws, Basri & Kagan, Corporate Legal Developments, Practicing Law in a Corporation, Practicing Law Institute, updated annually

Recognition & Accomplishments

Finalist for the American Antitrust Institute 2014 Award for Outstanding Antitrust Litigation Achievement in Private Law Practice

Best Lawyers ' 2013 New York City Litigation – Antitrust “Lawyer of the Year"

Chambers USA: America’s Leading Lawyers for Business, Antitrust (New York), 2015-2017; Antitrust: Plaintiff (Nationwide), 2017

Chambers Global: The World’s Leading Lawyers for Business

The Best Lawyers in America, antitrust litigation, mass tort litigation/class actions - defendants, 2006-2017; antitrust law, antitrust litigation, 2018

The Legal 500 US

Benchmark: America’s Leading Litigation Firms and Attorneys

Recent Publications

Co-author, Evolving Standards Under Sherman Act Section 2, ABA Antitrust Section Spring Meeting, February 2013

Recent Speaking Engagements

Back to the Future: A CLE Focused on Antitrust Basics, the Evolution of Antitrust Law, and Ethical Pitfalls,” Ballard Spahr CLE Program, November 16, 2015 

"Controlling Litigation Costs Through Creative Early Resolution Strategies," American Conference Institute, October 23, 2013

"Fair Lending – Managing and Defending Against Claims of Discriminatory Lending and Assessing the Status of ‘Disparate Impact’ in Lending Litigation and Enforcement, including in the Areas of Student Loans and Auto Financing," American Conference Institute: Residential Mortgage Litigation and Lending, July 29, 2013

"Vertical Foreclosure in Front of the Agencies and Courts," June 3, 2013

"Antitrust and Arbitration," Association of the Bar of the City of New York Program, May 6, 2013

"Arbitration: When, Why, and How It Can Lower Litigation Costs," 7th Annual Forum on Controlling Litigation Costs, May 1, 2013

"Section 2 Treble Damages Litigation – Alive and Well," ABA Antitrust Law Section 2013 Spring Meeting, April 11, 2013

"Bundling and Exclusive Dealing," Association of the Bar of the City of New York Program, January 30, 2013







Yale Law School (J.D. 1977)

Brandeis University (B.A. 1974)

New York

U.S. District Courts for the Eastern and Southern Districts of New York

U.S. District Court for the Northern District of California

U.S. Court of Appeals for the Second Circuit

U.S. Court of Appeals for the Third Circuit

U.S. Court of Appeals for the Fifth Circuit

U.S. Court of Appeals for the Sixth Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Supreme Court