Faruqi & Faruqi, LLP Securities Litigation Partners James (Josh) Wilson It encourages investors who have lost more than $100,000 on Visa to contact him directly to discuss their options.
If you have a loss of more than $100,000 Visa between 16 November 2023 and 23 September 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson live at the 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York– (Newsfile Corp. – January 18, 2025) – Faruqi & Faruqi, LLP, a national securities law firm, is investigating potential claims against. Visa Inc (NYSE: ). (“Visa” or the “Company”) (NYSE: V) and reminds investors January 21, 2025 deadline seeking the role of lead plaintiff in a securities class action filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has received hundreds of millions of dollars from investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or by failing to disclose that: (1) Visa was not in compliance with federal antitrust laws; (2) Visa did not have effective internal procedures and policies to evaluate and manage compliance with federal antitrust laws; and (3) as a result, Defendants' public statements were false and/or misleading at all relevant times. When true information enters the market, the lawsuit claims that investors suffer damages.
On September 24, 2024, during the market, the Department of Justice of the United States issued a release titled “Department of Justice Supports Visa for Monopolizing Debit Markets.” In this release, the DOJ announced that it “filed an antitrust lawsuit today against Visa for exclusivity and other illegal conduct in the debit network markets (.)” markets by using its control to prevent the growth of competitors and prevent others from developing new and innovative alternatives . “
The release quoted Attorney General Merrick Garland as saying “(w) alleges that Visa unlawfully accumulated the ability to receive fees that were higher than it would have been in a competitive market (.) Merchants and banks pass those costs on to consumers, either by raising prices or reducing quality or service as a result, conduct Visa invalidity affects not only the value of one item – but the value of everything.
On this news, Visa stock fell 5.4% on September 24, 2024.
A court-appointed lead plaintiff is an investor with a substantial financial interest in the relief sought by a sufficient and common class of class members who administers and oversees the lawsuit on behalf of the putative class. Any privileged class member may move the Court to act as lead plaintiff through counsel of his or her own choosing, or may choose to remain inactive and remain a non-class member. Your ability to share in any recovery is not affected by the decision to act as the lead plaintiff or not.
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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