| COMPANY |
Global Payments, Inc. |
| COURT |
United States District Court for the Northern District of Georgia |
| CASE NUMBER |
23-cv-00577 |
| JUDGE |
The Hon. Leigh Martin May |
| CLASS PERIOD |
October 31, 2019 and October 18, 2022 |
| SECURITY TYPE |
Securities |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Global Payments, Inc. (“Global Payments”) (NYSE: GPN) securities between October 31, 2019 and October 18, 2022, both dates inclusive (the “Class Period”).
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, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Active Network used deceptive and abusive acts and practices to dupe its customers into enrolling into Active Network’s own discount club; (2) since July 2011, Active Network, and by extension, Global Payments, was aware of such unauthorized conduct and that it was violating relevant regulations and laws aimed at protecting its consumers; (3) 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; (4) all the foregoing subjected the company to a foreseeable risk of heightened regulatory scrutiny or investigation; (5) Global Payments’ revenues were in part the product of Active Network’s unlawful conduct and thus unsustainable; and (6) as a result, the company’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
Defendants’ Motion to Dismiss is pending before the Court and awaiting an opinion. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.