Visa falls on report of US DoJ lawsuit alleging debit-card monopoly

Visa shares fell 3% on Tuesday after a report said the U.S. Department of Justice plans to file a lawsuit against the world's largest payment processor, alleging it illegally monopolized the country's debit-card market. The antitrust division of the regulator is set to file a lawsuit as soon as Tuesday, accusing Visa of a range of anti-competitive conduct, Bloomberg News reported on Monday, citing people familiar with the matter. "We believe this is an immediate negative to shares but we caution these types of antitrust cases are notoriously known for long/winding paths in the U.S.," boutique equity research firm Monness, Crespi, Hardt & Co said.