Fiserv has found itself once again in the legal spotlight, this time over allegations it misrepresented its 2025 financial performance and growth outlook.
Investors are taking legal action against Fiserv, claiming the payments giant painted an overly optimistic picture of its growth trajectory.
Filed in the US District Court for the Eastern District of Wisconsin, the complaint names Fiserv, CEO Michael Lyons, and former CFO Robert Hau as defendants.
The case covers shareholders who purchased Fiserv stock between July 23 and October 29 2025 and seeks damages for losses incurred after the company revised guidance downward.
“Fiserv disagrees with the claim and will vigorously defend itself in the lawsuit,” a Fiserv spokesperson told Payment Expert.
What the lawsuit alleges
According to the filing, Fiserv’s July 2025 guidance, which lowered projected revenue growth to 10%, was based on “assumptions… objectively difficult to achieve even with the right investment and strong execution.”
Investors were told the update reflected only minor delays in product launches and strategic plans, and the company would still achieve the full financial benefits.
The complaint says these statements were misleading, with Fiserv’s October 29, disclosure showing third-quarter revenue of $4.9bn and EPS of $2.04, both below analyst expectations.
Full-year guidance was also cut to 3.5-4% growth, with adjusted EPS of $8.50–$8.60.
Fiserv said the results came after a wider review of operations, which showed some key initiatives had been deprioritised because they focused too much on short-term revenue instead of building long-term client relationships.
The fintech’s shares fell nearly 45% on October 29 and dropped another 7.6% the next day. The lawsuit claims these losses were caused by Fiserv giving investors misleading information about growth expectations, operations and financial guidance. It seeks class-action status and damages for shareholders who were affected.
Lawsuits are stacking up
While Fiserv deals with its latest case, the company recently closed another legal matter. On November 13, Fiserv announced it had settled a lawsuit brought by a private citizen, in the US District Court for the Eastern District of Missouri.
The case, filed by Deborah Lynn Getchman, involved historical operations of Fiserv’s output solutions business and alleged non-compliance with US Postal Service (USPS) Move Update regulations.
Fiserv stated it cooperated fully with the USPS and US Department of Justice and agreed to pay $8.9m to resolve the matter.
“Fiserv is pleased to close out this legacy matter and move forward,” the company said. “We value our relationship with USPS and remain committed to supporting the mailing needs of our clients.”
However, several other lawsuits are still unresolved and appear to be piling up fast. Investors have filed cases over allegedly inflated Clover POS growth, forced migrations from legacy Payeezy systems and misleading financial guidance under former CEO Frank Bisignano.
In addition, US Senators Elizabeth Warren and Ron Wyden have requested information from Fiserv about Bisignano’s tenure and governance practices, adding pressure on the company’s financial disclosures and leadership decisions.
