Class Action Settlements: Key B2B Antitrust Trends and Industry Updates from the First Half of 2025

The past six months have marked a major period for antitrust class action settlements, with two historic deadlines: the Payment Card Interchange Fee Settlement (Visa/MasterCard)-the largest antitrust class action in history-had a filing deadline in February, and the Blue Cross Blue Shield Provider Settlement, the largest ever in the healthcare industry, closed on July 29.

With those landmark deadlines now behind us, we’re turning our focus to what’s currently emerging in the class action space-and what may be on the horizon.

January 2025-June 2025

The first half of 2025 has continued to demonstrate a significant shift in class action litigation: business-to-business (B2B) antitrust lawsuits are dominating the class action landscape. From credit card processing and pharmaceuticals to construction and healthcare price-fixing, litigation activity has focused on alleged market manipulation, overcharges, and payment practices that unfairly impact businesses.

Major Settlements in B2B Antitrust Class Actions:

Pharmaceuticals

Several major pharmaceutical antitrust cases reached final settlements in the first half of the year, bringing litigation to a close for the remaining defendants. These cases include:

• A $2.25M settlement with Teva in the Effexor XR case (indirect purchasers)

• A $73.5M final settlement with Mylan in the EpiPen case (direct purchasers)

• A $51.419M settlement with AstraZeneca and Handa in the Seroquel XR case (direct purchasers)

  
  

Pharmaceutical Settlements with upcoming deadlines:

• Generic Pharmaceuticals Antitrust Litigation: The Swiss manufacturer Sandoz reached a $275M settlement with end payors in early 2025. Separately, a $5.3M settlement with Apotex for Indirect Resellers (including hospitals and independent pharmacies) has a claims deadline of August 25, 2025.

  
  

• Xyrem Antitrust Litigation: A $198.4M settlement for self-insured health plans will close out this multidistrict litigation involving the narcolepsy drug Xyrem. The filing deadline is October 3, 2025.

Healthcare

Following the historic Blue Cross Blue Shield Provider Settlement deadline in July, the healthcare antitrust space has picked up one additional settlement so far this year, with an upcoming deadline:

• Sutter Health Premium Overpayment Settlement: This $228.5 million settlement resolves allegations that Sutter Health’s practices were anti-competitive, which led to higher premiums for fully-insured plans. Certain Northern California individuals and employers who have healthcare plans with Aetna, Anthem, Blue Shield of California, Health Net, or United Healthcare may be eligible to file a claim. The deadline to file a claim in this settlement is September 12, 2025.

Credit Card Processing

The credit card processing industry is heating up in 2025, with two major settlements making waves.

• Discover Merchant Settlement: Final revisions are still awaiting approval in this noteworthy settlement addressing allegations of credit card misclassification affecting merchants, merchant acquirers, and payment intermediaries. The total settlement value could exceed $1.2 billion, and a filing deadline has yet to be determined.

FYI: This is a contract-based settlement, not antitrust.

• Fraud Liability Shift Settlement: A partial settlement of $32.3 million resolves allegations that Discover and Amex conspired to shift liability of fraudulent transactions from networks and issuers onto merchants for chargebacks from EMV chip-card transactions processed through a non-chip-enabled terminal. There is no claim filing deadline at this time because funds will not be distributed until claims against the remaining defendants, Visa and MasterCard, are resolved.

Emerging Trends in Class Action Litigation:

Pharmaceuticals: Newly filed cases centering on alleged “pay-to-delay” schemes involving the drugs Dexilant, Humira, and Soliris have been recently filed.

Healthcare: The Zelis Repricing Antitrust Litigation involves lawsuits alleging Zelis's repricing services, including its Established Reimbursement Solution and Reference-Based Pricing, artificially suppress payments to healthcare providers for Out-Of-Network services.

Construction: Construction litigation is expanding, with recent settlements in concrete and PVC pipe cases and new multidistrict litigation over equipment rental prices.

Food processing: While some antitrust cases in the food industry are closing out, others, involving beef, pork, and turkey, continue to see additional settlements, affecting businesses across the supply chain.

As demonstrated in the first half of 2025, the class action landscape continues to evolve with significant new cases and settlements impacting businesses. Allow our organization to provide the expertise and support you need to navigate these opportunities effectively.