Visa Inc. Faces Securities Class Action Over Alleged Antitrust Violations Filed by Kessler Topaz Meltzer & Check, LLP

Major Developments in Visa's Legal Challenges

On November 23, 2024, it was announced that Kessler Topaz Meltzer & Check, LLP has initiated a securities class action lawsuit against Visa Inc. (NYSE: V), targeting shareholders who acquired Visa securities during the specified period from November 16, 2023, to September 23, 2024. This class action arises amidst serious allegations regarding the company's adherence to federal antitrust laws.

The Allegations

The lawsuit alleges that Visa's management made materially misleading statements regarding its compliance with federal antitrust regulations. Specifically, the lawsuit claims that Visa failed to ensure effective internal programs to evaluate and control its compliance with these laws. As a result, statements that were publicly disseminated by the company regarding its lawful operations were fundamentally misleading, impacting the valuation of Visa's securities during the class period.

Lead Plaintiff Process

For those affected by these developments, the deadline to apply as a lead plaintiff is approaching on January 21, 2025. The role of the lead plaintiff includes overseeing the litigation on behalf of all affected investors. This representative must possess a significant financial interest in the class and be representative of the investors' interests. Additionally, the lead plaintiff is responsible for selecting the counsel to represent the class in court, subject to court approval. It’s important to note that participating in this process will not affect the investor’s potential recovery from the case.

Background on Kessler Topaz Meltzer & Check, LLP

Kessler Topaz Meltzer & Check, LLP is known for its track record in class action litigation and has taken on numerous cases linked to corporate misconduct across various jurisdictions. The firm's aim is to protect investors and consumers against fraudulent practices while holding corporations accountable for various types of abuse and oversight failures.

Key Points of the Case

1. Class Period: Investors impacted are those who purchased Visa’s stocks or securities from November 16, 2023, to September 23, 2024.
2. Misconduct: The allegations point to a lack of compliance with federal antitrust laws, with managerial statements being misleading.
3. Contact Information: Affected investors can reach out to Kessler Topaz Meltzer & Check, LLP for more information or guidance regarding their involvement in this lawsuit.

This lawsuit underscores the ongoing scrutiny on major corporations regarding their business practices and regulatory compliance. Investors are advised to keep close tabs on the developments of this case as it unfolds.

For further information or to engage with the legal process, contact attorney Jonathan Naji at Kessler Topaz Meltzer & Check, LLP or visit their official website for more details on how to participate in the class action.