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.