Visa Inc ( V ). shares are seeing a drop Tuesday following reports indicating the U.S. Department of Justice (DOJ) is preparing to file an antitrust lawsuit against the global payments company.

What To Know: According to Bloomberg, the DOJ is expected to accuse Visa of monopolizing the U.S. debit card market, alleging that the company has engaged in anti-competitive practices, including exclusivity agreements that prevent competitors from entering the space.

The case is the result of years of investigation into Visa’s business practices, particularly following its failed acquisition attempt of Plaid Inc. in 2021. Additionally, the DOJ has been examining Visa’s “tokenization” technology pricing, which could have also hindered the expansion of rival networks and technology companies looking to enter the market.

This lawsuit is part of a broader regulatory crackdown by the DOJ, which has been targeting monopolistic practices across several industries. The Justice Department has recently been investigating other large tech companies, such as Alphabet and NVIDIA Inc. , as part of its efforts to curb anti-competitive behavior.

VISA Price Action: Visa’s stock were down by 4.17% at $276.60 according to Benzinga Pro.

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