Investors vie to lead Fiserv stock lawsuit

Core Viewpoint - A South Florida police pension fund and a European investment firm are seeking to be lead plaintiffs in a class-action lawsuit against Fiserv, alleging misleading statements regarding its Clover unit and significant financial losses due to share price declines [1][4]. Group 1: Lawsuit Details - The lawsuit was filed in July 2024, claiming Fiserv misled investors by not disclosing the forced migration of merchants to its Clover point-of-sale product during late 2023 to mid-2024 [4]. - The complaint names Fiserv and four executives, including current CEO Michael Lyons and former CEO Frank Bisignano, as defendants [5]. - The litigation targets investors who purchased or owned Fiserv stock between July 24, 2024, and July 22, 2025 [5]. Group 2: Financial Impact - The Hollywood police pension fund reported a loss of $1.67 million due to the decline in Fiserv shares, while Ethenea Independent Investors SA claimed a loss of $5.95 million on its investment in Fiserv [2]. - Fiserv's shares have declined by 38% this year, indicating significant financial distress for the company [6]. Group 3: Legal Process - The selection of a lead shareholder plaintiff is influenced by the size of the investor's losses and the capability of their attorneys to manage the litigation, as per the 1995 Private Securities Litigation Reform Act [3]. - The pension fund for police officers in Hollywood, Florida, manages approximately $460 million, while Ethenea Independent Investors SA manages about €2.4 billion ($2.8 billion) in assets [7].