The Law Offices of Frank R. Cruz Announces Investigation of Fidelity National Information Services, Inc. (FIS) on Behalf of Investors

The Law Offices of Frank R. Cruz announces an investigation of Fidelity National Information Services, Inc. (“Fidelity” or the “Company”) (NYSE: FIS ) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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Retrieved on: 
Saturday, March 11, 2023
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Tags: 
Class Action Lawsuit, Professional Services, Legal, FIS (company), FIS, Acquisition, Fidelity, CFO, News, Law, Suite, Corporation, Worldpay, NYSE, Cryptocurrency
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UNITED STATES, NORTH AMERICA, CALIFORNIA, LOS ANGELES
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LAW OFFICES OF FRANK R. CRUZ, THE LAW OFFICES OF FRANK R. CRUZ, FIDELITY NATIONAL INFORMATION SERVICES
Stock Symbol: 
NYSE:FIS
Summary
Key Points: 
  • The Law Offices of Frank R. Cruz announces an investigation of Fidelity National Information Services, Inc. (“Fidelity” or the “Company”) (NYSE: FIS ) on behalf of investors concerning the Company’s possible violations of federal securities laws.
  • On August 4, 2022, Fidelity announced that its Chief Financial Officer planned to step down as Corporate Executive Vice President and CFO.
  • On this news, Fidelity’s stock price fell $7.56, or 7.3%, to close at $96.57 per share on August 4, 2022, thereby injuring investors.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


The Law Offices of Frank R. Cruz announces an investigation of Fidelity National Information Services, Inc. (“Fidelity” or the “Company”) (NYSE: FIS) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On August 4, 2022, Fidelity announced that its Chief Financial Officer planned to step down as Corporate Executive Vice President and CFO. On this news, Fidelity’s stock price fell $7.56, or 7.3%, to close at $96.57 per share on August 4, 2022, thereby injuring investors.

Then, on November 3, 2022, the Company reported that its Merchant Solutions segment – specifically, its latest acquisition, Worldpay – had suffered a “margin contraction of 430 basis points.” On this news, Fidelity’s stock price fell $22.29, or 28%, to close at $56.79 per share on November 3, 2022.

Then, on February 13, 2023, Fidelity announced that it would spin off Worldpay, and in the process, the Company recognized a $17.6 billion write-down on the asset. On this news, Fidelity’s stock price fell $9.43, or 12.5%, to close at $66.00 per share on February 13, 2023, thereby injuring investors further.

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If you purchased Fidelity securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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