Labaton Keller Sucharow, serving as Lead Counsel, secured a $210 million settlement on behalf of investors in a securities fraud class action against Fidelity National Information Services, Inc.  The settlement, which is subject to final court approval, provides a substantial recovery for investors who suffered losses as a result of the alleged misconduct.  It is one of the largest securities class action settlements announced in 2025.

The litigation arose from allegations that FIS and certain senior executives made materially false and misleading statements concerning the Company’s acquisition and integration of Worldpay. Plaintiffs alleged that Defendants misrepresented the strength and performance of the combined business while concealing operational difficulties and declining trends within Worldpay that ultimately undermined the Company’s financial outlook. When the market learned the truth through a series of corrective disclosures, FIS’s stock price fell sharply, causing significant investor losses.

The case was litigated by Partners Michael P. Canty, James Christie, and Michael Rogers; Of Counsel Nicholas D. Manningham; and Associates Stephen C. Boscolo, Grace Harmon, Jacqueline R. Meyers, Charles Wood, and Newton Yu.

In September 2024, the Firm successfully defeated Defendants’ motion to dismiss, allowing the action to move forward.  The parties later reached the settlement while Plaintiffs’ motion for class certification was pending.

“This settlement represents an important recovery for investors and reflects the strength of the claims asserted in this case,” said Michael Canty. “We are pleased to have achieved this result on behalf of the class.”