NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 20, 2025 to file lead plaintiff applications in a securities class action lawsuit against Visa Inc. (NYSE: V), if they purchased the Company’s securities between November 16, 2023, and September 23, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Visa and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-v/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 20, 2025.
About the Lawsuit
Visa and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 24, the United States Department of Justice filed suit against the Company for four separate violations of the Sherman Antitrust Act alleging, among other things, that the Company leverages dual-sided network effects, afforded to it by its existing monopoly position on both sides of the payment processing market, to freeze out smaller competition and cement its market dominance and further abuses that power by coercing merchants to exclusively use its payments processing platform, thereby causing harm to consumers.
On this news, the price of Visa’s shares fell $1.48, or 5.38%, to close at $26.03 per share on September 24, 2024, on unusually heavy trading volume.
The case is Cai v. Visa, Inc., et al., No. 24-cv-08220.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
