SAN FRANCISCO, CA – (August 1, 2025) – National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in Fiserv, Inc. (“Fiserv”) (NYSE: FI) who purchased or otherwise acquired Fiserv common stock between July 24, 2024 and July 22, 2025, inclusive (the “Class Period”) to contact us immediately regarding the pending securities class action against Fiserv. The deadline to apply to be lead plaintiff is September 22, 2025.
Class Period: July 24, 2024 – July 22, 2025
Lead Plaintiff Motion Deadline: September 22, 2025
Case information: https://lieffcabraser.com/securities/fiserv/
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
Fiserv, incorporated in Wisconsin and headquartered in Milwaukee, provides transaction processing software for banks and retail merchants. The Company’s flagship product and most important growth driver is Clover, a payment processing platform that facilitates secure processing of credit, debit, and mobile payment transactions on behalf of financial institutions and their customers. Beginning in late 2023, Fiserv began a forced migration of customers using its older Payeezy point-of-sale platform to its Clover platform. Despite this forced migration, Fiserv represented to shareholders that 90% of Clover’s revenue growth was due to new client retention.
The action alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (a) due to Payeezy’s operational issues, Fiserv required its customers to migrate to Clover; (b) Clover’s key revenue metric, “gross payment volume” (or “GPV”), and revenue growth were boosted by the migrations, obscuring a deceleration in new business; (c) after their migrations, many former Payeezy customers, including e-commerce merchants who found Clover’s features costly and unnecessary, moved to competitors’ platforms; and (d) as a result of customer attrition, Clover’s GPV growth decelerated and its revenue growth could not be sustained.
On April 24, 2025, Fiserv revealed that Clover’s GPV growth rate had fallen from 14-17% in 2024 to 8% in Q1 2025. On this news, Fiserv’s stock price fell $40.20 per share, or 18.51%, from a closing price of $217.10 on April 23, 2025, to close at $176.90 on February 26, 2025, on elevated trading volume.
On May 15, 2025, the Company disclosed that Clover’s GPV growth would continue to decelerate throughout 2025. Analysts reported that the bulk of the lost customers were e-commerce merchants who had been forcibly migrated to Clover, but had limited use for the product and wanted more tailored and lower cost alternatives. On this news, Fiserv’s stock price fell $30.73 per share, or 16.18%, from a closing price of $189.86 on May 14, 2025, to close at $159.13 on May 15, 2025, on heavy trading volume.
On July 23, 2025, Fiserv lowered the top end of its 2025 organic growth guidance range and revealed that its Q2 organic revenue growth in its Merchant segment was only 9%, compared to 28% in Q2 2024. Wolfe Research noted that “we recognize a need for the dust to settle, with stability/credibility in metrics and guidance reestablished before some investors add materially to shares.” On this news, Fiserv’s stock price fell 13.9%, or $22.98, from a closing price of $165.98 on July 22, 2025 to close at $143.00 on July 23, 2025, on extremely heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
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