Faruqi & Faruqi, LLP is investigating the claims on behalf of Visa Investing.com investors
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses greater than $100,000 in Visa to contact him directly to discuss their options
If you have suffered losses greater than $100,000 in Visa between November 16, 2023 and September 23, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – December 28, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Visa Inc (NYSE:). (“Visa” or the “Company”) (NYSE: V) and reminds investors of The deadline is January 21, 2025 to seek the role of lead plaintiff in a federal securities class action brought against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.
As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Visa did not comply with federal antitrust laws; (2) Visa did not have effective internal programs and policies to assess and control compliance with federal antitrust laws; and (3) as a result, the defendant’s public statements were materially false and/or misleading at all relevant times. When the true details came to market, the lawsuit alleges, investors suffered damages.
On September 24, 2024, during market hours, the United States Department of Justice issued a statement titled “Department of Justice Sues Visa for Monopolizing Debit Markets.” In this press release, the DOJ announced that “today it filed a civil antitrust complaint against Visa for monopolization and other illegal conduct in the debit network markets[.]” The statement further states that “the complaint alleges that Visa unlawfully maintains a monopoly over the debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives.”
The press release quoted State Attorney Merrick Garland’s statement “[w]They claim that Visa illegally amassed the power to extract fees far in excess of what it could charge in a competitive market[.] Merchants and banks pass these costs on to consumers, either by raising prices or reducing quality or service. As a result, Visa’s illegal behavior affects not just the price of one thing – but the price of almost everything.”
Following this news, Visa shares fell 5.4% on September 24, 2024.
A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Visa’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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To view the original version of this press release, visit https://www.newsfilecorp.com/release/234702
