Fidelity National Investors Advance Worldpay Integration Suit

Fidelity National Information Services Inc. lost its bid to dismiss a proposed investor class action over the financial technology company’s acquisition of payment processor Worldpay.

The investors adequately pleaded their securities fraud claims, Judge Timothy J. Corrigan said Monday for the US District Court for the Middle District of Florida. Their allegations allow a “reasonable inference that Fidelity’s acquisition of Worldpay was unsuccessful and costly,” that “Worldpay was losing substantial numbers of customers to competitors and thus losing market share,” and that “Fidelity’s executives lied to investors about all of this for years, resulting in a significant drop in the ...