NEW ORLEANS, March 17, 2023 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 5, 2023 to file lead plaintiff applications in a securities class action lawsuit against Fidelity National Information Services, Inc. (NYSE: FIS), if they purchased the Company’s shares between February 9, 2021 and February 10, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Middle District of Florida.
What You May Do
If you purchased shares of Fidelity National and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-fis/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 5, 2023.
About the Lawsuit
Fidelity National and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 31, 2019, the Company announced it had completed the acquisition of payments company Worldpay, Inc. for $43 billion, which became part of the Fidelity National Merchant Solutions business. The Company subsequently, assured investors that the integration of Worldpay was “ahead of schedule,” achieved “success in revenue synergies,” and ultimately was “successfully completed” throughout the Class Period. Then, on February 13, 2023, the Company disclosed that it would be spinning off Worldpay and recording a goodwill impairment charge of $17.6 billion related to its Merchants Solutions business, a write-down of more than 40% of the purchase price for Worldpay just a few years earlier.
On this news, shares of Fidelity National fell more than 12%, from a closing price of $75.43 per share on the prior trading day of February 10, 2023 to a closing price of $66.00 per share on February 13, 2023.
The case is Palm Bay Police and Firefighters’ Pension Fund v. Fidelity National Information Services, Inc., No. 23-cv-252.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 960
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC