NEW ORLEANS, March 14, 2023 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds 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.
Fidelity National investors should visit us at https://claimsfiler.com/cases/nyse-fis/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
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