Fiserv Top Brass Misrepresented Clover’s Prospects, Suit Says

Fiserv Inc. executives and directors misled investors about growth prospects for its Clover payment processing platform before a 44% stock drop in October 2025, according to a shareholder derivative complaint.

Fiserv funneled merchants using its Payeezy platform onto Clover, temporarily inflating the new payment platform’s revenue and transaction volume until higher costs drove many to leave the platform, investor Nathan Silva said in a complaint filed Tuesday in the US District Court for the Eastern District of Wisconsin.

Current and former executives, including CEO Mike Lyons, violated securities laws and breached their fiduciary duties by making false statements about Clover’s ...