Important Visa Class Action Lawsuit Deadline for Shareholders Reaches January 2025

Visa Shareholders Alert: Take Action Before January 2025

New Orleans, December 13, 2024 - Investors holding shares of Visa Inc. (NYSE: V) should be aware of an important update regarding a securities class action lawsuit filed against the company. ClaimsFiler, a free service providing shareholder information, has warned that the deadline for filing lead plaintiff applications is set for January 20, 2025. This legal action is pertinent for those who purchased Visa securities within the specified period of November 16, 2023, through September 23, 2024.

Legal Background of the Case

The ongoing case, identified as Cai v. Visa, Inc., et al., No. 24-cv-08220, is currently in the United States District Court for the Northern District of California. Visa is charged with significant issues, including allegations of failing to disclose crucial information that potentially misled investors during the class period.

The situation escalated when, on September 24, 2024, the U.S. Department of Justice filed a suit against Visa, leading to claims of violations under the Sherman Antitrust Act. The accusations detail how Visa allegedly utilized its dominant position in the payment processing market to suppress competition. The complaint suggests that Visa coerced merchants into exclusively using its processing platform, causing adverse effects on consumers.

Market Impact

Following the filing of the antitrust complaint, Visa's share price took a hit, dropping by $1.48 or 5.38% to close at $26.03 on unusually high trading volume. Such fluctuations underline the serious nature of the allegations against Visa, which has raised more eyes on the financial outcome for shareholders.

Steps for Affected Investors

For investors who find themselves with losses exceeding $100,000 during the class period, it's critical to consider registration for lead plaintiff status with ClaimsFiler. The process can be initiated by visiting Claimsfiler.com or by reaching out via their toll-free number at (844) 367-9658. Their legal partners, Kahn Swick & Foti, LLC, offer consultations to discuss potential claims and legal strategies.

Conclusion

As deadlines approach, Visa investors must stay informed and take action if they wish to recover potential losses. With the complexities of the lawsuit and the implications of the Department of Justice's accusations, proactive measures are essential for affected shareholders. Don't miss the January 20, 2025 deadline, and make sure your voice is heard in the legal proceedings against Visa Inc. act now to secure your interests! As a reminder, ClaimsFiler is dedicated to assisting retail investors in navigating potential class action securities settlements. Visit the website today to learn more about your rights and options.