Photo: Jason Doiy /ALM DOJ's Visa Antitrust Suit Hands Class Action Lawyers New Line of Attack Against Payments Giant
The same day the Department of Justice sued Visa, the company set aside another $1.5 billion for its U.S. litigation escrow fund.
October 04, 2024 at 01:16 PM
3 minute read
A Florida sign-making company has filed an antitrust class action against Visa, the first of what might become a tsunami of cases piggybacking on the suit the Department of Justice filed last month alleging that the company monopolized the debit card market.
Like the DOJ's suit, Loxahatchee, Florida-based All Wrapped Up Signs and Graphix's complaint focuses on the technology that Visa uses to process debit payments, accusing the company of penalizing merchants that use alternative networks and paying potential competitors not to develop rival networks.
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