Is Visa Stock Still a Safe Bet for Investors Amid Likely DOJ Lawsuit? [Yahoo! Finance]
Fidelity National Information Services, Inc. (FIS)
Last fidelity national information services, inc. earnings: 2/13 07:00 am
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Source: Yahoo! Finance
V, accusing the latter of monopolizing the U.S. debit card market, per Bloomberg. The DOJ has claimed that Visa engaged in anti-competitive practices, such as making exclusive deals that prevent other payment processors from growing and blocking technology companies from entering the market. By doing so, the company allegedly solidified its dominance in the market and stifled competition. The DOJ's goal is to challenge Visa's practices in court, which could lead to restrictions or penalties on the latter, opening the market for more competition. This lawsuit is part of a broader government effort to crack down on monopoly behaviors in different industries. The investigation into Visa by the DOJ began after its failed attempt at a $5.3 billion acquisition of payments company Plaid in 2021. The DOJ argued that Visa's acquisition plan of Plaid was an attempt to eliminate a potential competitor that could have challenged its dominance in the online debit market. Is Visa Stock Still
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