Law Offices of Frank R. Cruz Encourages Fiserv, Inc. (FI) Investors To Inquire About Securities Fraud Class Action

Business Wire

5 days ago

LOS ANGELES--(BUSINESS WIRE)-- The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased Fiserv, Inc. ('Fiserv' or the 'Company') (NYSE: FI) common stock between , inclusive (the 'Class Period'). Fiserv investors have until September 22, 2025 to file a lead plaintiff motion.
Law Offices of Frank R. Cruz Encourages Fiserv, Inc. (FI) Investors To Inquire About Securities Fraud Class Action
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IF YOU SUFFERED A LOSS ON YOUR FISERV, INC. (FI) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.
You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at [e-mail], by telephone at [phone], or visit our website at www.frankcruzlaw.com.
What Happened?
On April 24, 2025, Fiserv reported that the gross payment volume ('GPV') of its merchant payment gateway, Clover, had only seen a growth of 8% for the first quarter of 2025, compared to 14% to 17% from the previous year. The Company attributed the slowing growth to lower 2025 transaction volumes from merchants using the older payment gateway, Payeezy, who had converted to Clover.
On this news, Fiserv's stock price fell $40.20, or 18.5%, to close at $176.90 per share on April 24, 2025, thereby injuring investors.
Then, on May 15, 2025, Fiserv disclosed that GPV growth deceleration would continue throughout 2025. On this news, Fiserv's stock price fell $30.73, or 16.2%, to close at $159.13 per share on May 15, 2025.
Then, on July 23, 2025, Fiserv lowered the top end of its full-year organic growth guidance range and confirmed that its quarterly organic revenue in the Merchant segment had decelerated to 9% year-over-year from 11% in the previous quarter.
On this news, Fiserv's stock price fell $22.98, or 13.8%, to close at $143.00 per share on July 23, 2025, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) due to cost issues and other problems with its Payeezy platform, Fiserv forced Payeezy merchants to migrate to its Clover platform; (2) Clover's revenue growth and GPV growth were temporarily and unsustainably boosted by these forced conversions, which concealed a slowdown in new merchant business; (3) shortly after these conversions, a significant portion of former Payeezy merchants switched to competing solutions due to Clover's high pricing, inadequate customer service, and other issues; (4) as a result of these merchant losses, Clover's GPV growth was significantly slowing, and its revenue growth was unsustainable; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Contact Us To Participate or Learn More:
If you purchased Fiserv common stock, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at:
Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Telephone: [phone]
Email: [e-mail]
Visit our website at: www.frankcruzlaw.com
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.