Trending...
- SIMM Capital Fund Surpasses $25M Raised and $100M+ in Real Estate Assets
- Twin Flame Visions Disrupts the Industry With Record Ad Performance and Rapid User Growth
- Inkdnylon Expands National Uniform Embroidery Services
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Fidelity National Information Services, Inc. ("Fidelity" or the "Company") (NYSE: FIS) common stock between February 9, 2021 and February 10, 2023, inclusive (the "Class Period"). Fidelity investors have until May 5, 2023 to file a lead plaintiff motion.
Investors suffering losses on their Fidelity investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On August 4, 2022, Fidelity announced that its Chief Financial Officer planned to step down as Corporate Executive Vice President and CFO. On this news, Fidelity's stock price fell $7.56, or 7.3%, to close at $96.57 per share on August 4, 2022, thereby injuring investors.
More on The PennZone
Then, on November 3, 2022, the Company reported that its Merchant Solutions segment – specifically, its latest acquisition, Worldpay – had suffered a "margin contraction of 430 basis points." On this news, Fidelity's stock price fell $22.29, or 28%, to close at $56.79 per share on November 3, 2022.
Then, on February 13, 2023, Fidelity announced that it would spin off Worldpay, and in the process, the Company recognized a $17.6 billion write-down on the asset. On this news, Fidelity's stock price fell $9.43, or 12.5%, to close at $66.00 per share on February 13, 2023, thereby injuring investors further.
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) the integration of Worldpay was not ahead of schedule; (2) the integration of Worldpay was not successfully completed during the Class Period; (3) the increases in revenue synergies were not driven by the Worldpay integration; and (4) 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.
More on The PennZone
If you purchased Fidelity common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Investors suffering losses on their Fidelity investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On August 4, 2022, Fidelity announced that its Chief Financial Officer planned to step down as Corporate Executive Vice President and CFO. On this news, Fidelity's stock price fell $7.56, or 7.3%, to close at $96.57 per share on August 4, 2022, thereby injuring investors.
More on The PennZone
- Contracting Resources Group Receives 2025 HIRE Vets Platinum Medallion Award from the U.S. Department of Labor
- Crunchbase Ranks Phinge Founder & CEO Robert DeMaio #1 Globally. Meet him in Las Vegas-Week of CES to Learn About Netverse, Patented App-less Platform
- IODefi Introduces New Web3 Infrastructure Framework as XRP Ledger Development Gains Global Attention
- Terizza Forms Strategic Collaboration with UC San Diego to Pioneer Next-Generation Distributed AI Infrastructure
- BPM Systems Launches New Automated Packaging & Labeling Solution for Manufacturers Across The US
Then, on November 3, 2022, the Company reported that its Merchant Solutions segment – specifically, its latest acquisition, Worldpay – had suffered a "margin contraction of 430 basis points." On this news, Fidelity's stock price fell $22.29, or 28%, to close at $56.79 per share on November 3, 2022.
Then, on February 13, 2023, Fidelity announced that it would spin off Worldpay, and in the process, the Company recognized a $17.6 billion write-down on the asset. On this news, Fidelity's stock price fell $9.43, or 12.5%, to close at $66.00 per share on February 13, 2023, thereby injuring investors further.
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) the integration of Worldpay was not ahead of schedule; (2) the integration of Worldpay was not successfully completed during the Class Period; (3) the increases in revenue synergies were not driven by the Worldpay integration; and (4) 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.
More on The PennZone
- EnergyStrat Launches Global LNG Risk Outlook 2025–2030
- Strong Revenue Gains, Accelerating Growth, Strategic Hospital Expansion & Uplisting Advancements: Cardiff Lexington Corporation (Stock Symbol: CDIX)
- Holiday Decorations Most Likely to Cause Injuries
- UK Financial Ltd Confirms Official Corporate Structure of the Maya Preferred Project and Its Dual-Class Token System
- Zac Arbitman Elected As Co-Chair of Philadelphia Bar Association Federal Courts Committee
If you purchased Fidelity common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Filed Under: Business
0 Comments
Latest on The PennZone
- God's Meal Barrel Combats the Increased Community Need in 2025
- myLAB Box Expands, Becoming the First and Only At-Home Testing Company to Serve the Entire Family—Human and Furry—with New Pet Intolerance Test
- Entering 2026 with Expanding Footprint, Strong Industry Tailwinds, and Anticipated Q3 Results: Off The Hook YS Inc. (N Y S E American: OTH)
- Philadelphia Startup NoPlex Creates an ADHD/Neurodiversity-Focused Alternative to Productivity Apps
- Tiger-Rock Martial Arts Appoints Jami Bond as Vice President of Growth
- Super League (N A S D A Q: SLE) Enters Breakout Phase: New Partnerships, Zero Debt & $20 Million Growth Capital Position Company for 2026 Acceleration
- Finland's Gambling Reform Promises "Single-Click" Block for All Licensed Sites
- Private Keys Are a Single Point of Failure: Security Advisor Gideon Cohen Warns MPC Technology Is Now the Only Defense for Institutional Custody
- Compliance Is the Ticket to Entry: Legal Advisor Gabriela Moraes Analyzes RWA Securitization Paths Under Brazil's New Legislation
- Coalition and CCHR Call on FDA to Review Electroshock Device and Consider a Ban
- Spark Announces 2025 Design Award Winners
- NEW Luxury Single-Family Homes Coming Soon to Manalapan - Pre-Qualify Today for Priority Appointments
- Together We Dance Shines at Newtown Holiday Parade
- Dominic Pace Returns to the NCIS Franchise With Guest Role on NCIS: Origins
- Anderson Periodontal Wellness Attends 5th Joint Congress for Ceramic Implantology
- UK Financial Ltd Completes Full Ecosystem Conversion With Three New ERC-3643 SEC-Ready Tokens As MCAT Deadline Closes Tonight
- AI Real Estate Company Quietly Building a National Powerhouse: reAlpha Tech Corp. (N A S D A Q: AIRE)
- Inkdnylon Expands National Uniform Embroidery Services
- Appliance EMT Expands Appliance Repair Services to Portland, OR and Vancouver, WA
- Next Week: The World's Best Young Pianists Arrive in Music City for the 2025 Nashville International Chopin Piano Competition