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V.US
id: 563
Visa (V) Suspension of Russia Operations $15B Market Reaction Case
On March 5, 2022, Visa (V) said they would suspend operations in Russia, essentially severing cardholders there from transactions outside the country in response to the invasion of Ukraine.
On this news, Visa stock dropped 4.75% and the Company lost over $15.5 billion of its capitalization, seriously damaging investors.
Since there were no government or regulatory requirements and the Company took such a step voluntarily, Investors have reason to suspect that because of the Company’s actions, shareholders could suffer damages when the true details entered the market.
Case Status
Inactive Investigation
Alleged Offence
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
03/05/2022
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