Investor Alert: Class Action Lawsuit Against Visa Inc. Led by Former Louisiana Attorney General

The legal landscape is heating up for Visa Inc. (NYSE: V) as Kahn Swick & Foti, LLC (KSF), spearheaded by former Louisiana Attorney General, Charles C. Foti, Jr., has issued a timely reminder to investors. Those who suffered losses exceeding $100,000 during the specified timeframe are urged to take action in a significant class action lawsuit against the financial giant.

Key Details of the Class Action Lawsuit

Investors who purchased Visa securities from November 16, 2023, to September 23, 2024, are eligible to participate. The lead plaintiff applications must be filed by January 20, 2025. The case is currently pending in the United States District Court for the Northern District of California under the title Cai v. Visa, Inc., et al., No. 24-cv-08220.

Violations Alleged Against Visa

Visa, along with several of its executives, stands accused of failing to disclose crucial information during the defined Class Period, thus violating federal securities laws. Notably, on September 24, 2024, the Justice Department filed a suit against Visa, citing multiple violations of the Sherman Antitrust Act.

The allegations assert that Visa has leveraged its monopoly in the payment processing market to hinder competition, thereby harming both consumers and smaller payment processors. Furthermore, Visa is accused of coercing merchants into exclusive agreements for its platforms, escalating its market dominance.

As a result of these revelations, Visa shares plummeted $1.48 (5.38%) to close at $26.03 on September 24, amid unusually high trading volumes, showcasing investor panic and concern over the company's future.

Steps for Affected Investors

Investors who purchased Visa shares during the specified period and are interested in understanding their legal rights can reach out to Kahn Swick & Foti at no cost. Interested parties can contact Lewis Kahn, KSF's Managing Partner, at 1-877-515-1850 or via email at [email protected]. Further details are available via their website at www.ksfcounsel.com.

To assume the role of a lead plaintiff, petitions must be submitted to the Court by January 20, 2025. This early engagement could be pivotal for stakeholders hoping to recover losses incurred during this tumultuous period for Visa.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti is recognized as one of the leading boutique securities litigation law firms within the United States, with extensive experience advocating for various clients, including retail and institutional investors. The firm operates across multiple states including New York, California, and Louisiana, focusing on seeking recoveries for investment losses related to corporate malfeasance.

For more details about Kahn Swick & Foti, interested parties can visit www.ksfcounsel.com.

Investors affected by these developments are encouraged to stay vigilant as the timeline for action progresses. The unfolding events surrounding Visa not only underscore the importance of transparency and accountability in corporate governance but also highlight the role of vigilant stakeholders in enforcing their rights.

Potential shareholders should recognize that they have resources at their disposal to address their grievances or seek redress. Every affected investor has a voice, and now is the time to make it heard.