Gift Card Printer Sues Liberty Mutual Over Fiserv Dispute Costs

A gift card printing company sued Liberty Mutual insurance units, claiming they wrongfully denied coverage for over $7 million in losses in a dispute with fintech payments firm Fiserv Inc. after defective packaging caused cards to come unglued at Walmart Inc. stores.

New PLI Holdings LLC, described as North America’s largest printer of “closed-loop” gift cards intended to be used at a single retailer, discovered in November 2024 that secure packaging called “shorties” were coming unglued at Walmart stores, leaving gift cards vulnerable to fraud, according to the company’s complaint against its insurers filed Thursday in the US District Court ...