Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired 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.
If you suffered a loss on your Fidelity investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Fidelity-National-Information-Services-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at email@example.com to learn more about your rights.
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.
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.
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If you purchased or otherwise acquired Fidelity common stock during the Class Period, you may move the Court no later than May 5, 2023 to ask the Court to appoint you as lead plaintiff. To be a member of the Class 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. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067