Visa Inc. (V) shares continued to decline following the Department of Justice (DOJ) filing an antitrust lawsuit. The quivers began after Bloomberg and The New York Times first hinted that a DOJ action was forthcoming. On Tuesday, the DOJ formally accused Visa of illegally dominating the debit card market. The stock, which had closed at $288.63 on Monday, dropped 6.6% to $269.63 by Wednesday, pushing it 8% below its 52-week high of $293.07.Despite the recent slump, the dip could present a solid entry point f ...

Visa says it is acquiring payments protection technology firm Featurespace to boost its anti-fraud capabilities.“Since its inception out of Cambridge University’s engineering department, Featurespace has developed innovative algorithmic-based solutions to analyze transaction data and detect even the most elusive fraud cases,” the payments giant said in a news release Thursday (Sept. 26).The company did not provide a cost for the acquisition, though a report last month suggested a price tag of $925 million. ...

NEW YORK, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Visa Inc. (“Visa” or the “Company”) (NYSE: V) on behalf of Visa stockholders. Our investigation concerns whether Visa has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. What is this about: On September 24, 2024, during market hours, The United States Departme ...

Payments company Visa Inc V was hit with an antitrust lawsuit by the U.S. Department of Justice (DOJ) Tuesday that analysts say could take years to sort out and will likely hurt shares in the short term.What Happened: The DOJ alleged Visa used anticompetitive practices in the debit network market in a lawsuit filed in U.S. District Court in New York on Tuesday.Visa controls over 60% of the U.S. debit transactions market, according to the lawsuit. The lawsuit alleged Visa illegally operates a monopoly by usi ...

Key TakeawaysVisa shares will likely remain in focus on Wednesday after slumping more than 5% yesterday following news that the U.S. Department of Justice had filed an antitrust lawsuit against the payments giant, alleging that it has engaged in monopolistic behaviors to protect its dominant position in the debit card market.The stock broke out to a new record high earlier this moth but promptly reversed course, raising the possibility of a bull trap, a chart pattern that lures investors into buying before ...

Following through on reports circulated Monday (Sept. 23), the U.S. Department of Justice filed an antitrust lawsuit against Visa, accusing it of stifling competition in the debit card market and suppressing alternatives.The Tuesday (Sept. 24) complaint alleged that Visa employed exclusionary contracts and anticompetitive practices to maintain its market share dominance, resulting in higher fees for merchants and consumers.In the complaint, filed in the U.S. District Court for the Southern District of New Y ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: A Visa card is displayed on May 15, 2024, in Portland, Ore. Credit: AP Photo/Jenny Kane, File The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market, costing consumers and businesses billions ...

Key TakeawaysVisa shares fell Tuesday as the U.S. Department of Justice (DOJ) filed an antitrust lawsuit against the payment processor.The DOJ accused the company of using monopolistic tactics to retain its top spot in the debit card market.The suit is the latest in a string of recent antitrust moves from the DOJ and Federal Trade Commission. Visa (V) shares fell Tuesday as the U.S. Department of Justice (DOJ) sued the payment processing giant over allegedly monopolistic behavior to protect its dominant pos ...

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The US Department of Justice sued Visa for alleged antitrust violations on Tuesday, accusing one of the world’s largest payment networks of suppressing competition by threatening merchants with high fees and paying off potential rivals.Visa processes more than 60% of debit transactions in the US, bringing it $7bn each year in fees collected when transactions are routed over its network, the justice department said. The company protects that dominance through agreements with card issuers, merchants and compe ...