ACI Worldwide Investigation Alert: Johnson Fistel, LLP Encourages Investors to Submit Their Information Below
Shareholder rights law firm Johnson Fistel, LLP is investigating potential claims on behalf of ACI Worldwide, Inc. (“ACI” or “the Company”) (NASDAQ: ACIW) against certain of its officers and directors.
What is Johnson Fistel investigating? On June 27, 2023, the Consumer Financial Protection Bureau announced that “ACI’s employees improperly accessed and used sensitive consumer financial information for internal testing purposes and without employing appropriate information safety controls. These internal tests created fake payment processing files that were treated as containing legitimate consumer bill payment orders by ACI’s consumer bill payment platform. Due to weaknesses in its information security practices, ACI caused the erroneous bill payment orders to be sent to consumers’ banks for processing. These actions initiated debits totaling approximately $2.3 billion in mortgage payments from nearly 500,000 borrower bank accounts without their knowledge or authorization. The Bureau found that ACI’s actions violated the Electronic Fund Transfer Act and its implementing rule, Regulation E, as well as the Consumer Financial Protection Act of 2010’s prohibition of unfair acts and practices. The order requires ACI to stop its unlawful activities and adopt and enforce reasonable information security practices. The order also requires ACI to pay a $25 million civil money penalty.”
If you are a current, long-term shareholder of ACI, you may have standing to hold ACI harmless from the alleged harm caused by the Company’s officers and directors by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing. You can submit your information below:
There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471