Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for sixteen consecutive years. A ...

SAN DIEGO, July 28, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds stockholders that a class action was filed on behalf of investors who purchased or otherwise acquired Fiserv, Inc. (NYSE: FI) common stock between July 24, 2024 and July 22, 2025. Fiserv is a global provider of transaction processing software for banks and retail merchants. About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, ...

Core Viewpoint - Fiserv is at a critical juncture, with conflicting signals from its weekly and monthly charts regarding future performance [1][12]. Weekly Chart Outlook - Fiserv has entered Phase 18, the final phase of the 18-Phase Adhishthana Cycle, which began in July 2013 and will conclude on December 20, 2026 [4]. - Phases 14 to 16, known as the Guna Triads, are essential for determining if Fiserv can achieve Nirvana in Phase 18, requiring a bullish trend (Satoguna) [4][5]. Monthly Chart Outlook - Currently, Fiserv is in Phase 11 on the monthly chart, which presents a different narrative [8]. - The stock experienced a significant rally of approximately 96% in Phase 9 and another 113% in Phase 10, but Phase 10 ended without forming a peak [9][10]. - Following a peak around $238, Fiserv has corrected by 40-45%, indicating a potential peak formation and descent in its Himalayan formation [10][11]. Investor Outlook - The weekly chart suggests a potential Nirvana move, while the monthly chart indicates a possible peak has already been established, creating a mixed signal for investors [12]. - A recent investigation into potential federal securities law violations adds to the uncertainty surrounding the stock [12]. - The $125.05 level is critical; if it holds or breaks decisively, it could confirm whether the current movement is a correction or the start of a larger trend [13].

Financial Data and Key Metrics Changes - The company reported a positive cash flow from operating activities, with net cash of $2.2 million from MUFG contracts related to the development and implementation of the digital platform [52][53] - Float income increased due to a rise in the superannuation guarantee rate, which is now at 12%, leading to more superannuation contributions and increased float through the clearinghouse [53][54] - Platform as a service revenues increased due to renegotiated contracts and CPI adjustments, while the existing ClickSuper business remained stable [54][55] Business Line Data and Key Metrics Changes - The company has seen significant traction in its partnerships with major super funds, including REST and Australian Super, which are expected to drive substantial revenue growth [12][18] - The implementation of the REST Superpilot was successful, achieving a customer experience feedback score of around 92% [13][14] - The company is focusing on enhancing its API capabilities, which has led to partnerships with mid-market companies, indicating a strong market traction [21][22] Market Data and Key Metrics Changes - The Australian superannuation market is substantial, with approximately 1 million employers and 15 million active employees, indicating a large potential customer base [9][10] - The top five super funds represent 50% of the market, with the company positioned to capture around 30% of the market through its partnerships with major funds [30][31] - The company is preparing for the transition to payday super, which is expected to increase the volume of pay events significantly [11][48] Company Strategy and Development Direction - The company aims to make compliance effortless for employers by partnering with major players in the ecosystem, focusing on superannuation and other compliance moments [6][7] - The strategy includes a long-term focus on enhancing the platform's capabilities and expanding its market presence, particularly in the superannuation sector [30][31] - The company is also exploring opportunities for acquisitions to accelerate revenue growth, particularly in compliance-related services [88][90] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a solid pipeline of opportunities and the importance of being prepared for the payday super rollout [60][61] - There is recognition of the challenges posed by competitors and the need for strategic decisions to balance short-term revenue generation with long-term growth [60][62] - The management emphasized the importance of maintaining a competitive edge through technology and customer service [72][84] Other Important Information - The company is investing in enhancing its security posture to address increasing fraud risks in the superannuation market [57][58] - There is a focus on improving the onboarding process for clients, which is seen as critical for long-term success [83] - The company is actively hiring to support its growth strategy, with a significant increase in headcount over the past year [55][86] Q&A Session Summary Question: Will the company need to raise funds to take all these to market? - Management acknowledged the need to consider different funding methods to support growth and prevent competitors from entering the market [65][66] Question: What does the Hong Kong development provide in terms of scalability? - The Hong Kong development is expected to serve around 300,000 users and represents a strategic opportunity for future growth in the region [67][68] Question: How does the company plan to handle competition from Westpac and others? - The company believes its comprehensive service and value proposition will differentiate it from competitors, despite the competitive landscape [72][84] Question: Is the company considering acquisitions for scale? - Management confirmed that while they are not seeking acquisitions in the super fund space, they are exploring opportunities in compliance services [88][90]

Company Overview - Wrkr Ltd (ASX: WRK) has a market capitalization of approximately $189.5 million, with a share price of 11 cents[2] - The company processes over AU$3.98 billion annually through its compliance services[7] - Wrkr has a staff of 60 employees and offices in Sydney and Melbourne[2] Market Opportunity - The Australian market includes approximately 1 million employers, over 300 payroll companies, and around 15 million employees[8] - There are approximately 22 million super fund members/accounts and around 620,000 Self-Managed Super Fund (SMSF) accounts[8] - The market sees approximately 160 million super payments, moving towards approximately 500 million with Payday Super (PDS), and around 500 million wage payments and STP events[8] Financial Performance (FY25) - Net cash from operating activities was $373,000, a 10% increase from $340,000 in FY24[19, 20] - Cash receipts from customers increased by 4% year-over-year, from $9.5 million in FY24 to $9.9 million in FY25[19, 20] - Staff costs increased by 28% year-over-year due to the team expanding by 20 people[19, 20] - Cash at the end of the period was $5.729 million, a 192% increase from $1.960 million in FY24[19] Strategic Initiatives - The company is focused on Payday Super (PDS) implementation, with pilot success at Rest Super and expansion at Australian Retirement Trust[9] - Wrkr is working with MUFG Retirement Solutions (MUFG) on implementation plans for various funds[14, 21] - The company projects net operating revenues between $10 million to $11 million for FY25[21]

Core Viewpoint - A class action lawsuit has been filed against Fiserv, Inc. concerning allegations of securities fraud and unlawful business practices [2][3]. Group 1: Financial Performance - Fiserv reported Clover gross payment volume (GPV) growth of only 8% for Q1 2025, a significant decline from the 14% to 17% growth rates observed in 2024 [3]. - The company attributed the slowdown in growth to reduced transaction volumes from merchants transitioning from the older Payeezy platform to the newer Clover platform [3]. - On July 23, 2025, Fiserv lowered the top end of its full-year organic growth guidance and confirmed that quarterly organic revenue in the Merchant segment decelerated to 9% year-over-year from 11% in the previous quarter [5]. Group 2: Stock Price Impact - Following the Q1 2025 report, Fiserv's stock price fell by $40.20 per share, or 18.52%, closing at $176.90 on April 24, 2025 [4]. - On May 15, 2025, after disclosing continued GPV growth deceleration, the stock price dropped by $30.73 per share, or 16.19%, closing at $159.13 [4]. - After the July 23 announcement regarding lowered growth guidance, Fiserv's stock price fell by $22.90 per share, or 13.85%, closing at $143.00 [5].

Core Insights - Exchange-traded funds (ETFs) provide low-cost exposure and passive income opportunities for investors [1] - ARK Invest's ETFs, particularly ARK Fintech Innovation ETF (ARKF) and ARK Next Generation Internet ETF (ARKW), have shown impressive performance in 2025 [1] Group 1: ARK Fintech Innovation ETF (ARKF) - ARKF has surged 45% year-to-date, trading at $54.09 [2] - The ETF focuses on companies leading the financial technology evolution, covering sectors like finance, cryptocurrency, and digital payments [5] - Nearly 5% of the fund is allocated to Bitcoin (BTC), including both established firms and high-growth players in blockchain and digital finance [6] Group 2: ARK Next Generation Internet ETF (ARKW) - ARKW has also rallied 45% year-to-date, trading at $157 [7] - The ETF targets companies reshaping internet infrastructure, including cloud computing, artificial intelligence, and digital media [7] - ARKW has nearly doubled over the past year, driven by strong demand for companies transforming online work, shopping, and communication [9]

Core Viewpoint - A class action lawsuit has been filed against Fiserv, Inc. for allegedly making misleading statements and failing to disclose critical facts regarding its payment technology platforms, particularly the transition from Payeezy to Clover, which has led to significant stock price declines [1][3][4]. Group 1: Allegations and Issues - The lawsuit claims that Fiserv compelled merchants to transition from its Payeezy platform to Clover due to cost and performance issues, which temporarily inflated Clover's gross payment volume (GPV) and revenue growth [3]. - It is alleged that many former Payeezy merchants abandoned Clover due to high fees and poor customer support, leading to unsustainable revenue growth and GPV expansion for Clover [3]. - Fiserv's GPV growth for Clover was reported at just 8% for Q1 2025, a decline from 14% to 17% in 2024, attributed to reduced transaction volumes from former Payeezy merchants [4]. Group 2: Stock Price Impact - Following the disclosure of the slowdown in GPV growth, Fiserv's stock price dropped more than 18% on April 24, 2025 [4]. - On May 15, 2025, Fiserv acknowledged that the GPV growth deceleration would continue throughout the year, resulting in an additional 16% decline in share price [5]. - On July 23, 2025, Fiserv revised its full-year organic growth guidance downward, confirming a decline in year-over-year revenue growth in its Merchant segment to 9% from 11%, leading to a nearly 14% drop in share price [6].

Core Viewpoint - Rosen Law Firm has announced a class action lawsuit against Fiserv, Inc. for alleged misleading statements and failures to disclose critical information regarding its Clover platform and Payeezy merchants during the Class Period from July 24, 2024, to July 23, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Fiserv made false statements about its Clover platform's growth and business prospects, which were misleading to investors [5]. - Allegations include that Fiserv forced Payeezy merchants to migrate to Clover, which temporarily inflated Clover's revenue growth and gross payment volume (GPV) [5]. - The lawsuit states that many former Payeezy merchants switched to competitors due to Clover's high pricing and compatibility issues, leading to a significant slowdown in Clover's GPV growth [5]. Group 2: Investor Participation - Investors who purchased Fiserv common stock during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, investors can submit a form or contact the law firm for more information [3][6]. - A lead plaintiff is needed to represent other class members, and interested parties must move the Court by September 22, 2025 [1][3]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over $438 million for investors, showcasing its capability in handling such cases [4].

Core Viewpoint - A securities class action lawsuit has been filed against Fiserv, Inc. for allegedly misleading investors regarding its Clover platform and the impact of forced migrations from its Payeezy platform [1][2]. Group 1: Allegations of Misleading Information - The lawsuit claims that Fiserv did not disclose issues with its Payeezy platform, which led to forced migrations to Clover, artificially inflating Clover's revenue and GPV growth [2]. - It is alleged that the forced conversions resulted in a significant number of former Payeezy merchants switching to competitors due to Clover's high pricing and inadequate customer service [2]. - The complaint states that Fiserv's positive statements about Clover's growth were materially false and misleading, as they concealed a slowdown in new merchant business and GPV growth [2]. Group 2: Financial Performance and Market Reaction - On April 24, 2025, Fiserv reported Clover GPV growth of only 8% for Q1 2025, a significant decline from 14%-17% in 2024, leading to an 18.5% drop in stock price [3]. - The company attributed the slowdown in GPV growth to lower transaction volumes from Payeezy merchants who migrated to Clover, while Clover's revenue growth remained steady at 27% [3]. - Analysts expressed concerns about the sustainability of Clover's growth, noting the widening gap between revenue and GPV growth, which was the largest in their model's history [3]. Group 3: Continued Decline and Investor Impact - On May 15, 2025, Fiserv disclosed that GPV growth deceleration would persist throughout 2025, resulting in a further 16.2% drop in stock price [4]. - Analysts highlighted the intensifying competitive dynamics and significant customer churn from Clover, indicating ongoing challenges for the company [4]. - The lawsuit claims that investors have suffered significant damages due to the decline in the market value of Fiserv's common stock as a result of these alleged misrepresentations [5].