Visa Adds $1.5 Billion to Litigation Escrow Account
VVisa(V) PYMNTS.com·2024-09-28 00:28

Visa disclosed Thursday (Sept. 26) that it authorized the deposit of $1.5 billion into the litigation escrow account previously established under its U.S. retrospective responsibility plan.The company made this move Wednesday (Sept. 25), it said in a filing with the Securities and Exchange Commission (SEC).“Under the terms of the plan, when the company funds the U.S. litigation escrow account, the value of the company’s class B-1 and B-2 common stock, which are held predominantly by U.S. financial instituti ...