Global Payments’ $3.6 Million Settlement Gets Initial Approval

Global Payments Inc. and investors who had filed a proposed class action over its acquisition of Active Network LLC saw preliminary approval of their $3.6 million settlement agreement.

Active, a specialized payment processor for summer camps and sports competitions, resolved a series of deceptive marketing suits brought by municipal, state, and private plaintiffs before Global acquired it in 2017. The investors here alleged that Global never disclosed the suits or that consumers were still making similar complaints about Active. Global’s stock value dropped after the Consumer Financial Protection Bureau began an investigation, they said.

The lead plaintiffs submitted a settlement ...