Nuvei Sued for Failing to Pay Investors After Paya Acquisition

Nuvei Corp. allegedly refused to pay out shareholders of Paya Holdings Inc. after acquiring the Atlanta-based payment processing company through a tender offer this year, a suit says.

The Canadian payment technology company allegedly refused to accept tender of Paya shares at $9.75 per share, which it had agreed to pay shareholders in the merger, which was completed on Feb. 22, according to the complaint filed in US District Court for the District of Delaware.

Paya shareholders seek to recover compensatory and consequential damages from Nuvei for alleged violations of the merger agreement, as well as violations of the Delaware ...