NEW YORK, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C. has filed a federal securities class action in the United States District Court Northern District of Georgia on behalf of its client and all similarly situated investors who purchased or otherwise acquired securities of Global Payments, Inc. ("Global Payments" or the "Company") (NYSE: GPN) from October 31, 2019 to October 18, 2022, inclusive (the "Class Period"). The class action alleges violations of the federal securities law under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than April 10, 2023. Any member of the proposed Class may move to serve as the Lead Plaintiff through counsel of their choice.
If you have suffered a net loss from investment in Global Payments’ securities from October 31, 2019 and October 18, 2022, you may obtain additional information about this lawsuit and your ability to become a Lead Plaintiff, by contacting Andrea Farah at firstname.lastname@example.org or Alesandra Greco at email@example.com or by calling 914-733-7256. The class action is titled Shafer v. Global Payments, Inc. et al., No. 1:23-cv-00577 (N.D. Ga.).
The Complaint alleges that Global Payments and certain of its top executives made false and misleading statements to the public throughout the Class Period regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (a) Active Network used deceptive and abusive acts and practices to dupe its customers into enrolling into Active Network’s own discount club; (b) since July 2011, Active Network, and by extension, Global Payments, was aware of such unauthorized conduct and that it was violating relevant regulations and laws aimed at protecting its consumers; (c) since 2011, Global Payments failed to properly monitor its subsidiary from engaging in such unlawful conduct, detect and stop the misconduct, and identify and remediate harmed consumers; (d) all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation; (e) Global Payments’ revenues were in part the product of Active Network’s unlawful conduct and thus unsustainable; and (f) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Andrea Farah, Esq.
Alesandra Greco, Esq.
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256