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Fiserv Faces Class Actions Alleging Misleading Claims on Clover Growth

Investors have until September 22 to ask the court to be appointed lead plaintiff.

Overview

  • Plaintiff firms Pomerantz, Rosen Law Firm, and Levi & Korsinsky have announced securities class-action complaints against Fiserv.
  • The complaints contend Fiserv portrayed Clover’s momentum as durable while forced migrations from the Payeezy platform temporarily inflated gross payment volume.
  • Plaintiffs allege many converted merchants defected due to high pricing, downtime, and compatibility or service problems, contributing to a slowdown in Clover’s GPV.
  • Notices point to disclosures on April 24, May 15, and July 23 that flagged decelerating Clover metrics and reduced guidance, followed by sharp stock declines.
  • The alleged class period spans July 24, 2024 through July 22, 2025, and no class has been certified as law firms solicit investors on a contingency basis.