Notice of Filing Securities Class Action Against Global Payments, Inc. – GPN
Shareholder rights law firm Johnson Fistel, LLP announces that it filed a class action seeking to represent purchasers of Global Payments, Inc. (“Global Payments” or the “Company”) (NYSE: GPN) securities between October 31, 2019 and October 18, 2022, both dates inclusive (the “Class Period”). The Global Payments class action lawsuit was filed in the United States District Court for the Northern District of Georgia and is captioned Shafer v. Global Payments, Inc. et al., Case No. 1:23-cv-00577-LMM. The Global Payments class action lawsuit charges Global Payments and certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Global Payments class action lawsuit, please provide your information here:
You can also contact lead securities analyst Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
Lead plaintiff motions for the Global Payments class action lawsuit must be filed with the court no later than April 10, 2023.
Case Allegations: The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies. Specifically, the complaint alleges that defendants made false and misleading statements and failed to disclose that: (a) Active Network, LLC (“Active Network”) allegedly used deceptive and abusive acts and practices to dupe its customers into enrolling in Active Network’s discount club; (b) since July 2011, Active Network, and by extension, Global Payments, was allegedly aware of such unauthorized conduct and that it was allegedly violating relevant regulations and laws aimed at protecting its consumers; (c) since 2011, Global Payments allegedly failed to properly monitor its subsidiary from engaging in such unlawful conduct, detect and stop the misconduct, and identify and remediate harmed consumers; (d) all the foregoing allegedly subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation; (e) Global Payments’ revenues were in part the product of Active Network’s alleged unlawful conduct and thus unsustainable; and (f) as a result, the Company’s public statements are alleged to have been materially false and misleading at all relevant times.
The Lead Plaintiff Process: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Global Payments common stock during the Class Period to seek appointment as lead plaintiff in the Global Payments class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff will act on behalf of all other class members in directing the Global Payments class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share any potential future recovery of the Global Payments class action lawsuit is not dependent upon serving as lead plaintiff. For more information regarding the lead plaintiff process, please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
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Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Lead Securities Analyst
jimb@johnsonfistel.com