Visa Sued by Justice Department Over Plaid Acquisition
The U.S. Department of Justice hit Visa (NYSE: V) with an antitrust lawsuit on Thursday over the payment processor's planned acquisition of Plaid.
In January, Visa announced plans to acquire the fintech company for $5.3 billion. Plaid develops technology that helps consumers securely connect their financial accounts to their apps. The deal had been pending reviews, but last week, the Justice Department sued Visa and its consultant, Bain, to enforce Bain's compliance with its investigation of the proposed acquisition.
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Source Fool.com