13 Best Big Name Stocks to Buy Now

7. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 165

Visa Inc. (NYSE:V) is among the 13 Best Big Name Stocks to Buy Now. This week, a U.S. district judge dismissed a class action lawsuit by consumers, accusing the company of failing to warn that its Vanilla gift cards were susceptible to theft.

The case was brought by Ira Schuman of New York, who sued Visa Inc. (NYSE:V) and two Vanilla card issuers last year, upon learning that eight $500 cards he had bought in 2022 and 2023 as gifts for employees had been emptied.

District Judge Gregory Woods ruled that it was unreasonable for customers to consider gift cards to be immune from scams. He also added that Visa Inc. (NYSE:V)’s logo did not amount to a promise that no theft would occur, and the card payments company would help victims.

The judge also rejected claims about Visa Inc. (NYSE:V) not providing enough warnings on the cards’ packaging about potential fraud. Here is what Woods wrote in his verdict:

“No reasonable consumer would expect the allegedly ‘widespread’ practice of third-party scams affecting prepaid cards to somehow not affect one of the industry’s major suppliers.”