Judge defeats shareholder class action tied to Visa's DOJ debit case

A federal judge in California defeated a proposed shareholder class action that alleged Visa failed to disclose anticompetitive practices while under a Justice Department investigation. The judge found the investor failed to plausibly connect a roughly 7% stock price drop to the alleged misstatements. The Justice Department's antitrust lawsuit over Visa's debit business remains ongoing.

• Proposed shareholder class action dismissed in the Northern District of California
• Investor did not plausibly link a roughly 7% share price drop to alleged misstatements
• The DOJ lawsuit over debit monopolization, filed September 2024, is still ongoing