A securities class action has been filed against Fiserv, Inc. (FI) n behalf of all persons and entities that purchased or otherwise acquired Fiserv common stock between July 24, 2024 through July 22, 2025. This case has been filed in the USDC – DE.
On July 23, 2025, before market-open, Fiserv published second quarter 2025 financial results and hosted an earnings call. As part of the Company’s press release, Fiserv disclosed that it revised its 2025 outlook from a previous range of 10-12% refined organic revenue growth outlook to 10%. CEO Lyons pointed to delayed Company launches and initiatives for the revised 2025 guidance. Following this news, Fiserv’s stock price fell over 17% to open at $137.00 per share on July 23, 2025.
The complaint alleges that, throughout the Class Period, Defendants misled investors by failing to disclose that: (a) due to cost issues and other problems with its Payeezy platform, Fiserv forced Payeezy merchants to migrate to its Clover platform; (b) Clover’s revenue growth and GPV growth were temporarily and unsustainably boosted by these forced conversions, which concealed a slowdown in new merchant business; (c) 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; (d) as a result of these merchant losses, Clover’s GPV growth was significantly slowing, and its revenue growth was unsustainable; and (e) based on the foregoing, Fiserv’s positive Class Period statements about Clover’s growth strategies, competition, attrition, GPV growth, and business prospects were materially false and misleading.