NEW YORK CITY, NY / ACCESSWIRE / October 16, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Visa Inc. ("Visa" or "the Company") (NYSE:V). Investors who purchased Visa securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/V.
Investigation Details
On September 24, 2024, The United States Department of Justice issued a release entitled "Justice Department Sues Visa for Monopolizing Debit Markets." In this release, the DOJ announced it had "filed a civil antitrust lawsuit today against Visa for monopolization and other unlawful conduct in debit network markets [.]" In addition, the "complaint alleges that Visa illegally maintains a monopoly over debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives." The release quoted Attorney General Merrick Garland stating, "[w]e allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market[.] Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa's unlawful conduct affects not just the price of one thing - but the price of nearly everything." Following this news, Visa stock dropped $15.85, or 5.49%, to close at $272.78 on September 24, 2024.
What's Next?
If you are aware of any facts relating to this investigation or purchased Visa securities, you can assist this investigation by visiting the firm's site: bgandg.com/V. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
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Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC