Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Global Payments, Inc. (NYSE: GPN).
Global Payments, Inc., is the parent company of Active Network LLC (“Active”), which operates online event registration and payment services for camps and athletic events, providing members with discounts on various consumer products and services, such as wine tastings, sports apparel, and travel.
In October 2022, following widespread complaints that Active’s system caused consumers to mistakenly enroll in a trial membership, which automatically converted to a paid subscription if not cancelled within 30 days charging customers annual fees, the Consumer Financial Protection Bureau (“CFPB”) sued Active, alleging that its continued operation of the program violated federal law.
Thereafter, the Company and certain of its executives were also sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court presiding over that case denied the Company’s motion to dismiss in part, allowing the case to move forward.
KSF’s investigation is focusing on whether Global’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Global shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit us at https://www.ksfcounsel.com/cases/nyse-gpn/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
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Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850