FIS Directors Flubbed Worldpay Acquisition, Investor Suit Says

Fidelity National Information Services Inc.'s board falsely touted the financial technology company’s purchase and integration of payment processor Worldpay Inc. before poor results led to a $17 billion write-off, an investor says in a derivative suit.

A separate securities class action over Worldpay’s integration has exposed FIS to “massive” liability, shareholder Portia McCollum says. McCollum filed her complaint Thursday in the US District Court for the Middle District of Florida, the same district where the class action was filed in March.

Board members misrepresented that FIS had “successfully completed” the integration of Worldpay into its existing Merchant Solutions business segment, ...