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Lawsuit filed for Investors who lost money with shares of Fidelity National Financial, Inc. (NYSE: FNF)

03-15-2023 05:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Fidelity National Financial, Inc. (NYSE: FNF) shares.

A lawsuit was filed on behalf of investors in Fidelity National Financial, Inc. (NYSE: FNF) shares.

An investor, who purchased shares of Fidelity National Financial, Inc. (NYSE: FNF), filed a lawsuit over alleged violations of Federal Securities Laws by Fidelity National Financial, Inc.

Investors who purchased shares of Fidelity National Financial, Inc. (NYSE: FNF) have certain options and for certain investors are short and strict deadlines running. Deadline: May 5, 2023. NYSE: FNF investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Jacksonville, FL based Fidelity National Financial, Inc., provides global e-commerce and payment technologies to financial institutions and businesses and, in recent years, has become the largest processing and payments company in the world. The Company's Merchant Solutions segment, which accounted for approximately 30% of Fidelity National's total revenue in 2021, serves merchants by enabling them to accept, authorize, and settle electronic payment transactions.

On July 31, 2019, Fidelity National Financial, Inc. announced it had completed the acquisition of payments company Worldpay, Inc. ("Worldpay") for $43 billion, which became part of the Fidelity National Merchant Solutions business.

Then on August 4, 2022, when Fidelity National Financial, Inc. announced that its Chief Financial Officer James Woodall planned to "step down."

Then, on November 3, 2022, Fidelity National Financial, Inc. announced disappointing results for the third quarter of 2022, including that profit margins in the Merchant Solutions business "saw continued pressure in the quarter" resulting "in an overall adjusted EBITDA margin contracting 150 points year-on-year."

Finally, on February 13, 2023, Fidelity National Financial, Inc. announced that it would be spinning off Worldpay and recording a goodwill impairment charge of $17.6 billion related to its Merchants Solutions business.

Shares of Fidelity National Financial, Inc. (NYSE: FNF) declined from over $48 per share on March 2022, to as low as $33.25 per share on March 13, 2023.

The plaintiff claims that between February 9, 2021 and February 10, 2023, the Defendants misled investors and/or failed to disclose that the integration of Worldpay was not ahead of schedule, that the integration of Worldpay was not successfully completed between February 9, 2021 and February 10, 2023, that the increases in revenue synergies were not driven by the Worldpay integration, and that as a result, Defendants' positive statements about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Fidelity National Financial, Inc. (NYSE: FNF) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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