The PennZone

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

• AI-Powered Neuropsychiatry, FDA Regulatory Momentum, Commercial Ketamine Launch Position NRx Pharmaceuticals for Potential Breakout Growth in 2026
• Henri-Lloyd Launches Sail Free to Break Down Barriers to Sailing
• Genuine Hospitality, LLC Selected to Operate Hilton Garden Inn Jacksonville JTB/Deerwood Park
• Destination Niagara Launches Game Changing Digital Magazine Redefining How Visitors Experience Niagara Falls
• Val Market is the New Frontier of the Online Marketplace

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

• San Diego's newest marketing firm is boring on purpose — it's working
• Arizona Christian Homeschools Launches Statewide Directory
• LKPFM Corporation Canada the importance
• Sexually Abused in a Psychiatric Hospital or Psychiatrist's or Psychologist's Office? CCHR Urges Survivors to Reach Out to It
• Ten Ten Ten Announces Free Value-Based Care Playbook for Independent Primary Care Practices

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

---

Show All News | Disclaimer | Report Violation