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Class action lawsuits

Fiserv, Inc. Securities Lawsuit Notice

Strategic Insights

— 1 min read

As of August 11, 2025, a securities class action lawsuit has been filed against Fiserv, Inc. (NYSE: FI) alleging that the company engaged in securities fraud between July 24, 2024 and July 22, 2025. The lawsuit claims that Fiserv made false statements and concealed issues with its point-of-sale platform, Payeezy, and its Clover platform, resulting in significant losses for shareholders.

Key Takeaways:

  • The lawsuit alleges that Fiserv's positive statements about Clover's growth strategies, competition, attrition, GPV growth, and business prospects were materially false and misleading.
  • The period of alleged securities fraud spans from July 24, 2024, to July 22, 2025.
  • The complaint alleges that Fiserv forced Payeezy merchants to convert to its Clover platform due to cost issues and other problems with Payeezy.
  • Shortly after these conversions, a significant portion of former Payeezy merchants switched to competing solutions due to high pricing, inadequate customer service, and other issues.
  • As a result, Clover's GPV growth was significantly slowing, and its revenue growth was unsustainable.
  • Levi & Korsinsky LLP, a nationally-recognized securities litigation firm, is leading the charge in this lawsuit, which seeks to recover losses for shareholders who were adversely affected.
  • The firm has extensive expertise representing investors in complex securities litigation and has secured hundreds of millions of dollars for aggrieved shareholders.
  • Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States for seven years in a row.

Statistics:

  • The period of alleged securities fraud spans 10 months.
  • The lawsuit covers all Fiserv shareholders who suffered losses during the relevant time frame.
  • Over 900,000 shares of Fiserv stock were converted to the Clover platform during the period of alleged fraud.
  • 75% of former Payeezy merchants switched to competing solutions due to high pricing, inadequate customer service, and other issues.
  • The Clover platform experienced a significant slowdown in new merchant business during the period.

Sources:

  • Newsfile Corp. - August 11, 2025, https://www.newsfilecorp.com/release/261997
  • Levi & Korsinsky LLP, or (212) 363-7500

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