Palm Bay Police and Firefighters’ Pension Fund Sues FIS

Pension fund accuses FIS of making false statements about Worldpay acquisition

A class-action lawsuit has been filed against Fidelity National Information Services, Inc. (FIS) alleging that the company made false and misleading statements about its acquisition of Worldpay Inc.

The lawsuit, which was filed in the United States District Court for the Middle District of Florida, alleges that FIS and its officers made false and misleading statements about the integration of Worldpay into FIS's business, including the expected benefits of the acquisition and the timing of the integration. The lawsuit also alleges that FIS and its officers made false and misleading statements about the company's financial performance, including the company's revenue growth and earnings per share.

The lawsuit seeks to recover damages on behalf of all investors who purchased FIS common stock between October 29, 2021, and October 27, 2022, the dates on which FIS announced the acquisition of Worldpay and the date on which FIS issued its third-quarter 2022 earnings report.

The lawsuit is being led by the Palm Bay Police and Firefighters’ Pension Fund, which is a public pension fund that invested in FIS common stock. The lawsuit is being filed by the law firms of Saxena White P.A. and Klausner, Kaufman, Jensen & Levinson.

The lawsuit is still in its early stages, and it is not yet clear whether the plaintiffs will be successful. However, the lawsuit has the potential to be a significant one, as it could result in a large recovery for the plaintiffs.

Here are some additional details about the case:

• The lawsuit was filed on February 24, 2023, in the United States District Court for the Middle District of Florida.

• The plaintiffs are the Palm Bay Police and Firefighters’ Pension Fund and other investors who purchased FIS common stock between October 29, 2021, and October 27, 2022.

• The lawsuit is being led by the law firms of Saxena White P.A. and Klausner, Kaufman, Jensen & Levinson.

• The lawsuit alleges that FIS and its officers made false and misleading statements about the company's acquisition of Worldpay Inc., which was completed in October 2022.

• The lawsuit also alleges that FIS and its officers made false and misleading statements about the company's financial performance, including the company's revenue growth and earnings per share.

• The lawsuit seeks to recover damages on behalf of all investors who purchased FIS common stock between October 29, 2021, and October 27, 2022, the dates on which FIS announced the acquisition of Worldpay and the date on which FIS issued its third-quarter 2022 earnings report.