Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Urges investors who have suffered losses of more than $100,000 in Visa to contact him directly to discuss their options
If you have suffered a loss of more than $100,000 visa Between November 16, 2023 and September 23, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi Partner Josh Wilson live on 877-247-4292 or 212-983-9330 (ext. 1310).
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NEW YORK, NY–(Newsfile Corp. – January 18, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims Visa Inc (NYSE:). (“Visa” or the “Company”) (NYSE: V) and advises investors Deadline January 21, 2025 To seek the role of lead plaintiff in a federal securities class action lawsuit filed against the company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has returned hundreds of millions of dollars to investors since its inception 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 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 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 alleges, investors were harmed.
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 that release, the Justice Department said it “today filed a civil antitrust lawsuit against Visa for monopolizing and other illegal practices in the debit network markets.[.]The release also states that “the complaint alleges that Visa illegally maintains a monopoly in the debit network markets, using its dominance to stifle the growth of existing competitors and prevent others from developing new and innovative alternatives.”
The publication quotes the statement of the Attorney General Merrick Garland.[w]e alleges that Visa unlawfully obtained the power to charge fees far in excess of what it could charge in a competitive market[.] Merchants and banks pass these costs on to consumers by raising prices or reducing quality or service. As a result, Visa’s illegal action affects not just the price of one item, but the price of almost everything.
On the news, Visa shares 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 that is adequate and typical of class members, who leads and oversees litigation on behalf of the putative class. Any putative class member can apply to the court to become a lead plaintiff through an attorney of their choice, or they can do nothing and remain a class member. Your ability to participate in any recovery will not be affected by the determination of whether or not you are the lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Visa’s actions to contact the firm, including whistleblowers, former employees, shareholders and others.
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To view the source version of this press release, visit https://www.newsfilecorp.com/release/237483