Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Visa Inc. (V)

/EIN News/ -- NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Visa Inc. (“Visa” or the “Company”) (NYSE: V) securities between November 16, 2023 and September 23, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was not in compliance with federal antitrust laws and did not have effective internal programs and policies to assess and control compliance with federal antitrust laws; and (2) the Company was in violation of federal antitrust law, and therefore likely to be subject to lawsuits and penalties by federal agencies. The Complaint further alleges that on September 24, 2024, the U.S. Department of Justice filed a lawsuit against Visa in federal court for monopolizing the debit card payment processing market. On this news, the price of the Company stock fell more than 5%.

Investors who purchased or otherwise acquired shares of Visa should contact the Firm prior to the January 21, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.