Chicago Parking Meters Sued In Federal Court Over Alleged Monopoly Contract

CHICAGO (CBS)-- Three Chicago drivers are taking Chicago Parking Meters to court to break-up what they say is an illegal monopoly

The lawsuit filed in federal court is looking to become a class-action suit, on behalf of all of the city's drivers, to end the city's exclusive 75-year deal.

They claim it's led to higher street parking rates, too many meters while restricting other modes of travel, like bikes and ride-sharing.

Chicago Parking Meters has not commented on the suit.