Fiserv(US:FI) Globenewswire·2025-09-15 19:59Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fiserv, Inc. regarding a class action lawsuit due to alleged misleading statements and omissions related to the company's Clover platform and its impact on revenue growth [1][3]. Summary by Sections Allegations - The complaint alleges that Fiserv made materially false and misleading statements during the class period from July 24, 2024, to July 22, 2025. Key points include: - Fiserv forced Payeezy merchants to switch to its Clover platform due to issues with the older Payeezy platform [3]. - Clover's revenue and GPV (Gross Payment Volume) growth were artificially inflated by these conversions, masking a slowdown in new merchant acquisitions [3]. - Many former Payeezy merchants transitioned to competitors due to Clover's high pricing and poor customer service [3]. - As a result, Clover's GPV growth significantly slowed, and its revenue growth became unsustainable [3]. - Fiserv's positive statements regarding Clover's growth strategies and business prospects were deemed materially false and misleading [3]. Class Action Details - Shareholders who purchased Fiserv shares during the specified class period are encouraged to register for the class action. The deadline for seeking lead plaintiff status is September 22, 2025 [4]. - Participants will be enrolled in a portfolio monitoring system to receive updates on the case [4]. Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and illegal business practices [5].