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V.US
id: 1400
Visa (V) Antitrust Violations Case
N.D. California
Court 3:24-cv-08220
Case number11/16/2023
Class period Start09/23/2024
Class period End01/20/2025
Lead Plaintiff motion deadline- $V investors filed a lawsuit against Visa for misleading them about compliance with antitrust laws and the risks of regulatory investigations.
- On September 24, 2024, the DOJ sued Visa over debit market monopolization, causing a 5.38% drop in $V stock.
Case Details:
Between November 2023 and September 2024, Visa repeatedly assured investors of its compliance programs in filings, including its 2023 Annual Report and quarterly filings in January, April, and July 2024.
However, on September 24, 2024, the DOJ filed a lawsuit against Visa, accusing the company of monopolizing the debit card payment processing market.
The DOJ claimed that Visa used its powerful market position to block competition, pressured merchants into exclusive deals, and set prices in ways that hurt smaller competitors.
This disclosure contradicted Visa’s prior statements, leading $V to drop by 5.38%.
Based on these events, $V investors filed a lawsuit against Visa, accusing the company of the following:
- It misled investors about compliance with federal antitrust laws.
- It downplayed the risks of regulatory investigations and potential lawsuits.
Investors believe Visa misled them about its legal risks, which became clear when the DOJ’s antitrust lawsuit revealed the extent of the alleged misconduct.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Fraud,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09/24/2024
Filing date
11/20/2024
Lead Plaintiff Deadline
01/20/2025