Recent Security Class Actions

According to the Complaint, Fidelity National Information Services, Inc. provides global e-commerce and payment technologies to financial institutions and businesses and, in recent years, has become the largest processing and payments company in the world.

On July 31, 2019, Fidelity National announced it had completed the acquisition of payments company Worldpay, Inc. for $43 billion, which became part of the Fidelity National Merchant Solutions business. Throughout the Class Period, Defendants assured investors that the integration of Worldpay was "ahead of schedule," achieved "success in revenue synergies," and ultimately was "successfully completed."

The Complaint alleges that during the Class Period, Defendants misled investors and/or failed to disclose that (1) the integration of Worldpay was not ahead of schedule; (2) the integration of Worldpay was not successfully completed during the Class Period; (3) the increases in revenue synergies were not driven by the Worldpay integration; and (4) as a result, Defendants' positive statements about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.