Faruqi & Faruqi Securities LLP partner James (Josh) Wilson encourages investors who have suffered losses exceeding $100,000 at Visa to contact him directly to discuss their options.
If you suffer losses exceeding $100,000 Visa Between November 16, 2023 and September 23, 2024 If you would like to discuss your legal rights, contact Farooqui & Farooqui Partner Josh Wilson live in 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – December 22, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Visa company (New York Stock Exchange:). (“Visa” or the “Company”) (NYSE:V) reminds investors of January 21, 2025 deadline For the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Farooqui & Farooqui 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 founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated the federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Visa was not in compliance with the federal antitrust laws; (2) Visa did not have effective internal programs and policies to evaluate and monitor compliance with federal antitrust laws; and (3) as a result, Defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims, investors suffered damages.
On September 24, 2024, during market hours, the US Department of Justice issued a statement titled “DOJ Files Sues Against Visa for Monopoly in Debit Markets.” In this statement, the Department of Justice announced that it “today filed a civil antitrust lawsuit against Visa for monopolization and other illegal conduct in the debit network markets(.).” The statement further stated, “The complaint alleges that Visa illegally maintains a monopoly on debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives.”
“(We) allege that Visa has illegally amassed the ability to extract fees far in excess of what it would charge in a competitive market,” the statement quoted Attorney General Merrick Garland as saying. “Merchants and banks pass these costs on to consumers, either by raising prices or by raising prices.” Or reduce quality or service, and as a result, Visa's illegal behavior affects not just the price of one thing, but the price of almost everything.”
Based on this news, Visa stock fell 5.4% on September 24, 2024.
A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and is appropriate and typical for members of the class who direct and oversee litigation on behalf of the putative class. Any member of the putative class may ask the court to serve as lead plaintiff through counsel of their choice, or they may choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Visa's conduct to contact the company, including whistleblowers, former employees, shareholders and others.
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Lawyer advertisement. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar result with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234404
