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Business Wire
19 hours ago
- Business
- Business Wire
FISERV INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Fiserv, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP Fiserv class action lawsuit. Captioned City of Hollywood Police Officers' Retirement System v. Fiserv, Inc., No. 25-cv-06094 (S.D.N.Y.), the Fiserv class action lawsuit charges Fiserv as well as certain of Fiserv's top current and former executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Fiserv class action lawsuit, please provide your information here: CASE ALLEGATIONS: Fiserv provides payments and financial services technology solutions. The Fiserv class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) due to cost issues and other problems with its Payeezy platform, Fiserv forced Payeezy merchants to migrate to its Clover platform; (ii) Clover's revenue growth and gross payment volume ('GPV') growth were temporarily and unsustainably boosted by these forced conversions, which concealed a slowdown in new merchant business; (iii) 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; and (iv) as a result of these merchant losses, Clover's GPV growth was significantly slowing, and its revenue growth was unsustainable. The Fiserv class action lawsuit further alleges that on April 24, 2025, Fiserv reported Clover GPV growth of only 8% for the first quarter of 2025, a material stepdown from 2024 GPV rates of between 14% and 17%. Fiserv attributed this slowing growth to lower 2025 transaction volume from Payeezy merchants who had converted to Clover, according to the complaint. The Fiserv class action lawsuit alleges that on this news, the price of Fiserv common stock fell more than 18%. Then, on May 15, 2025, the Fiserv class action lawsuit further alleges that Fiserv disclosed that GPV growth deceleration would continue through 2025. On this news, the price of Fiserv common stock fell a further 16%, according to the complaint. Finally, 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, the complaint alleges. On this news, the price of Fiserv common stock fell nearly 14%, according to the Fiserv class action lawsuit. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Fiserv common stock during the Class Period to seek appointment as lead plaintiff in the Fiserv class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Fiserv class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Fiserv class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Fiserv class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Yahoo
a day ago
- Business
- Yahoo
Fiserv sued over Clover migration
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Investors sued the payments processing giant Fiserv in federal court, alleging it forced merchants to migrate to Clover, its small business-focused point-of-sale service, and lied to investors about slowing growth of Clover sales as merchants rebelled against its cost. Moving businesses from an older system onto Clover concealed a slowdown in new merchant business for the point-of-sale system, according to the lawsuit filed Thursday by the City of Hollywood Police Officers' Retirement System. The Milwaukee-based payment processor disputes the allegations, a spokesperson said in an emailed statement Monday. 'Fiserv disagrees with the claims and will vigorously defend itself in the lawsuit,' the statement said. Dive Insight: 'This case is about how Fiserv misled investors by artificially inflating its growth numbers through compelled migration of legacy customers using Payeezy, the company's older point of sale platform, to Clover, its expensive and feature-heavy POS platform,' said the complaint filed in the U.S. District Court for Southern New York. The lawsuit seeks class action status, offering to represent anyone who bought or owned Fiserv stock between July 24, 2024 and July 22, 2025. Fiserv in the past has identified the Clover unit as a key driver of future growth. The company began phasing out Payeezy in 2023 and 'forcibly migrated' as many as 200,000 merchants that had been using the older system to Clover beginning in late 2023 and continuing through the first half of 2024, the complaint says. Fiserv executives then made misleading statements on the growth of Clover, the lawsuit alleges. For example, last summer then Fiserv CEO Frank Bisigiano told investors that Clover's growth was fueled by new merchants signing up for the platform, according to the complaint. Company executives also did not disclose that merchants were leaving Clover for POS competitors, such as Block's Square and Toast, the complaint says. Fiserv reported lower-than-expected earnings growth for the second quarter. Company executives, including CEO Mike Lyons, attributed the slowdown to delayed initiatives and economic uncertainty. The company's stock tumbled on the news that the processor fell short of analyst expectations. Along with Fiserv, company officials Bisignano, Lyons, and Chief Financial Officer Bob Hau are named as defendants in the lawsuit. 'Plaintiff and Class members would not have purchased Fiserv stock at the prices they paid, or at all, if they had been aware that the market prices had been artificially and falsely inflated by Defendants' misleading statements,' the lawsuit says. Lyons became CEO in May after Bisigiano left the company to lead the Social Security Administration. Recommended Reading Fiserv has ambitious goals for Clover. Can it meet them? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
a day ago
- Business
- Globe and Mail
Law Offices of Frank R. Cruz Encourages Fiserv, Inc. (FI) Investors To Inquire About Securities Fraud Class Action
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 July 24, 2024 and July 22, 2025, inclusive (the 'Class Period'). Fiserv investors have until September 22, 2025 to file a lead plaintiff motion. 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 info@ by telephone at (310) 914-5007, or visit our website at 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: This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
2 days ago
- Business
- Business Wire
Law Offices of Frank R. Cruz Encourages Fiserv, Inc. (FI) Investors To Inquire About Securities Fraud Class Action
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 Share 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 info@ by telephone at (310) 914-5007, or visit our website at 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: 310-914-5007 Email: info@ Visit our website at: This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
FI Investors Have Opportunity to Lead Fiserv, Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES, July 28, 2025 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Fiserv, Inc. ('Fiserv' or 'the Company') (NYSE: FI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between July 24, 2024 and July 22, 2025, inclusive (the 'Class Period'), are encouraged to contact the firm before September 22, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Fiserv forced merchants using its Payeezy platform to migrant to the Clover program due to cost issues and other problems. The Company's Clover platform revenue growth was unsustainably boosted by these conversions. The Company lost customers to competitors due to Clover's high prices and poor customer service. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Fiserv, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law FirmBrian Schall, Esq., 310-301-3335info@
