Global Payments, Inc. Class Action Lawsuit - GPN
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The Global Payments class action lawsuit seeks to represent purchasers or acquirers of Global Payments, Inc. (NYSE: GPN) securities between October 31, 2019 and October 18, 2022, inclusive (the “Class Period”). Captioned Shafer v. Active Network LLC, No. 23-cv-00577 (N.D. Ga.), the Global Payments class action lawsuit charges Global Payments, Active Network, LLC, and certain of Global Payments’ 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 in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Global Payments class action lawsuit must be filed with the court no later than April 10, 2023.
CASE ALLEGATIONS: Global Payments is a payment technology company that delivers innovative software and services to merchants and financial institutions worldwide. Active Network is a Global Payments subsidiary which provides third-party registration and payment processing services to consumers signing up to participate in events.
The Global Payments class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Active Network used deceptive and abusive acts and practices to dupe its customers into enrolling into Active Network’s own discount club; (ii) since July 2011, Active Network, and by extension, Global Payments, was aware of such unauthorized conduct and that Global Payments was violating relevant regulations and laws aimed at protecting Global Payments’ customers; (iii) 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; (iv) all the foregoing subjected Global Payments to a foreseeable risk of heightened regulatory scrutiny or investigation; and (v) Global Payments’ revenues were in part the product of Active Network’s unlawful conduct and thus unsustainable.
On October 18, 2022, the Consumer Financial Protection Bureau issued a complaint against Active Network for illegally cramming consumers with membership fees. On this news, the price of Global Payments stock fell, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Global Payments securities 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 acts 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 Global Payments class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Global Payments class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.