Fiserv(US:FI) GlobeNewswire News Room·2025-07-24 22:23Core Viewpoint - The Fiserv class action lawsuit alleges that the company and certain executives made misleading statements regarding the performance of its Clover platform, leading to significant stock price declines following the disclosure of slowing growth metrics [3][4][5][6]. Group 1: Allegations and Impact - The lawsuit claims that Fiserv forced merchants from its Payeezy platform to migrate to Clover, which temporarily inflated Clover's revenue and GPV growth, masking a slowdown in new merchant acquisition [3]. - Following the migration, many former Payeezy merchants switched to competitors due to Clover's high pricing and poor customer service, resulting in a significant slowdown in Clover's GPV growth [3]. - On April 24, 2025, Fiserv reported only 8% GPV growth for Clover in Q1 2025, a decline from 14%-17% in 2024, leading to an 18% drop in stock price [4]. - On May 15, 2025, Fiserv indicated that GPV growth deceleration would persist throughout 2025, causing an additional 16% decline in stock price [5]. - On July 23, 2025, Fiserv lowered its full-year organic growth guidance and reported a deceleration in quarterly organic revenue growth to 9% from 11%, resulting in a nearly 14% drop in stock price [6]. Group 2: Legal Process and Representation - Investors who purchased Fiserv common stock during the class period can seek appointment as lead plaintiff in the lawsuit, representing the interests of the class [7]. - The lead plaintiff can choose a law firm to litigate the case, and participation as lead plaintiff does not affect the ability to share in any potential recovery [7]. Group 3: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [8]. - The firm has been ranked 1 in securing monetary relief for investors in securities class action cases for four out of the last five years [8].