A lawsuit was filed on behalf of investors in Global Payments Inc. (NYSE:GPN) shares over alleged securities laws violations.
San Diego, CA — (SBWIRE) — 02/21/2023 — An investor, who purchased shares of Global Payments Inc. (NYSE: GPN), filed a lawsuit over alleged violations of Federal Securities Laws by Global Payments Inc..
Investors who purchased shares of Global Payments Inc. (NYSE: GPN) have certain options and for certain investors are short and strict deadlines running. Deadline: April 10, 2023. NYSE: GPN investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
Atlanta, GA based Global Payments Inc. provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific.
On October 18, 2022, the Consumer Financial Protection Bureau (“CFPB”) filed a lawsuit against Active Network LLC (“Active Network”), a payment processor owned by Global Payments, alleging that Active Network used deceptive tactics with respect to its enrollment processes. On this news, Global Payments’ stock price fell sharply, damaging investors.
Shares of Global Payments Inc. (NYSE: GPN) declined from $136.88 per share on August 16, 2022, to as low as $92.27 per share on December 19, 2022.
The plaintiff claims that between October 31, 2019 to October 18, 2022, the defendants made false and/or misleading statements and/or failed to disclose that Active Network used deceptive and abusive acts and practices to dupe its customers into enrolling into Active Network’s own discount club, that since July 2011, Active Network, and by extension, Global Payments, was aware of such unauthorized conduct and that it was violating relevant regulations and laws aimed at protecting its consumers, that since 2011, Global Payments failed to properly monitor its subsidiary from engaging in such unlawful conduct, detect and stop the misconduct, and identify and remediate harmed consumers, that all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation, that Global Payments’ revenues were in part the product of Active Network’s unlawful conduct and thus unsustainable, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.
Those who purchased shares of Global Payments Inc. (NYSE: GPN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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