Fidelity National Execs Sued Again Over Failed Worldpay Merger

Fidelity National Information Services Inc.’s acquisition and subsequent spinoff of Worldpay Inc. drew another shareholder derivative suit, alleging that FIS directors and officers misled investors about the merger to artificially inflate their company’s stock price.

Current and former directors and executives allegedly misrepresented the $43 billion acquisition of Worldpay in 2019 as a “raging success,” touting strong financial returns until FIS took a $17.6 billion write down to unwind the deal in 2023, according to the lawsuit filed Wednesday in US District Court for the Middle District of Florida.

FIS ultimately sold 55% of Worldpay for $11.7 billion, ...