Fidelity National Information Services, Inc. Securities Class Litigation
Securities class action litigation has been filed on behalf of investors who purchased the common stock of Fidelity National Information Services, Inc. (“Fidelity National” or the “Company”) (NYSE: FIS) between February 9, 2021 and February 10, 2023, inclusive (the “Class Period”). If you purchased Fidelity National common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than May 5, 2023. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action. FIS investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff complete the form below, text or email firstname.lastname@example.org, or call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358.
Background on the Fidelity National Securities Class Litigation
Fidelity National, incorporated in Georgia and headquartered in Jacksonville, Florida, is a global e-commerce and payment technology firm that is one of the largest payments and processing companies in the world. On July 31, 2019, Fidelity National closed the acquisition of Worldpay, Inc. (“Worldpay”), a payments company. The action alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the integration of Worldpay, a payments company acquired in 2019, into Fidelity National’s Merchant Solutions segment was not ahead of schedule; (2) Worldpay’s integration was not completed during the Class Period; and (3) Worldpay’s integration did not increase revenue synergies. On August 4, 2022, Fidelity National announced that its Chief Financial Officer was going to step down. On this news, the price of Fidelity National stock fell 7.26% to close at $96.57 per share on August 4, 2022. On November 3, 2022, Fidelity National announced disappointing financial results for 3Q 2022 and that profit margins in its Merchant Solutions division were under significant pressure. On this news, the price of Fidelity National stock fell 28.04% to close at $57.18 per share on November 3, 2022. On February 13, 2023, Fidelity National announced that it was going to spin off the Worldpay business and record a $17.6 billion goodwill impairment charge relating to its Merchants Solutions business. On this news, the price of Fidelity National stock fell 12.63% to close at $66.00 per share on February 13, 2023.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. 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 $127 billion in verdicts and settlements. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In 2021, The American Lawyer named our firm its “Boutique Litigation Firm of the Year.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America,” and listed us as its “2020 California Plaintiff Firm of the Year.” Lieff Cabraser is committed to ensuring access to justice for all.