LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming DATE deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Fiserv, Inc. (“Fiserv” or the “Company”) (NYSE: FI) common stock between July 24, 2024 and July 22, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON FISERV, INC. (FI), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
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.
If you purchased or otherwise acquired Fiserv securities between July 24, 2024 and July 22, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is September 22, 2025.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
