NEW YORK (TheStreet) -- Shares of Visa (V) - Get Report are slipping 2.12% to $75.11 late Thursday morning as a federal appeals court threw out a $7.25 billion antitrust settlement involving the company, MasterCard (MA) and millions of retailers related to credit card fees, Reuters reports.
The second U.S. Circuit Court of Appeals in New York said some of the retailers were not adequately represented in the case. The court also decertified the case as a class action.
The settlement was aimed at resolving nearly 10 years of litigation over whether Visa and MasterCard improperly fixed fees that merchants were charged when customers used credit or debit cards, Reuters said.
Shares of MasterCard are down 1.99% to $90.30 late this morning.
(Visa is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and expanding profit margins.
The team believes its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: V