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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Urges Investors Who Suffered Losses Over $100,000 in Visa to Contact Him Directly to Discuss Their Options.
If you have a loss of more than $100,000 per Visa between November 16, 2023 and September 23, 2024 and you would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson live to 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York–(Newsfile Corp. – January 11, 2025) – Faruqi & Faruqi, LLP, a leading national security law firm, is investigating potential allegations against Visa Inc. Companies (NYSE: ). (“Visa” or the “Company”) (NYSE: V) and reminds investors of January 21, 2025 deadline seeking the role of lead plaintiff in a federal class action against the Company.
Faruqi & Faruqi is a leading national security law firm with offices in New York, Pennsylvania, California and Georgia. The firm has raised hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As described below, the complaint alleges that the Company and its directors violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Visa was not comply with federal antitrust laws; (2) Visa did not have effective internal programs and policies to monitor and control compliance with federal antitrust laws; and (3) as a result, the Defendants’ public statements were false and/or misleading at all relevant times. When the real facts entered the market, the lawsuit alleges that investors were harmed.
On September 24, 2024, during market hours, the United States Department of Justice issued a release titled “Justice Department Sues Visa for Monopolizing Debit Markets.” In this release, the DOJ announced that it “filed an antitrust case today against Visa for controlling and other illegal conduct in the online debit (.) markets by using its authority to hinder growth of its existing competitors and prevent others from developing new and innovative alternatives.”
The release quoted Attorney General Merrick Garland as saying “(w)e allege that Visa has legally amassed the power to charge fees far in excess of what it could charge in a competitive market(.) Merchants and banks pass those costs on to consumers, by raising prices or reducing quality or service. As a result, Visa’s illegal behavior not only affects the price of one thing – but the price of almost everything else and another.
On this news, Visa stock fell 5.4% on September 24, 2024.
The lead plaintiff appointed by the court is the investor with the greatest financial interest in the relief sought by a reasonable and common class of class members conducting and overseeing the case on behalf of the putative class. Any member of the arbitration panel may have the Court act as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent panel member. Your ability to participate in any recovery is not affected by the decision to serve 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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Advertising Attorney. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Preliminary results do not guarantee or predict the same result with respect to any future issue. We welcome the opportunity to discuss your matter. All communications will be held confidentially.
To view the source version of this release, please visit https://www.newsfilecorp.com/release/236029
