FIS · 10-Q · 2026Q2 · Full report

Litigation and Legal Risk

Fidelity National Information Services, Inc. · 2026-08-04 · Importance 25 · Surprise 42 · In source text

A consolidated securities class action in the U.S. District Court for the Middle District of Florida alleged federal securities-law violations concerning disclosures about FIS’s former Merchant Solutions segment, including valuation, integration and synergies. The parties agreed to settle in the fourth quarter of 2025; the settlement was expected to be substantially covered by insurance and not materially affect operations or financial condition. The court granted final approval at a hearing on July 9, 2026. Separate shareholder derivative actions and related demands concerning the same Merchant Solutions matters remain subject to dismissal motions and Board-led review.

Key facts

• A putative class action titled In re Fidelity National Information Services, Inc. Securities Litigation was filed March 6, 2023; consolidated amended complaint filed August 2, 2023; court denied motion to dismiss on September 30, 2024; parties reached settlement in Q4 2025; plaintiffs filed motion for preliminary approval on December 19, 2025; court entered preliminary approval order on February 18, 2026; court granted final approval on July 9, 2026. source
• On April 27, 2023, a shareholder derivative action (Portia McCollum derivatively on behalf of FIS v. Gary Norcross et al.) was filed; subsequent demands (McCollum, Hialeah, Southfield, Young, Luthin) were made; the Demand Review Committee was established on August 25, 2023 and hired independent counsel. source
• On October 18, 2023, the Hialeah derivative action was filed; Company filed Motion to Stay and Individual Defendants filed Motion to Dismiss on March 29, 2024; on March 21, 2025 the court granted in part and denied in part the Motion to Stay and denied the Individual Defendants' Motion to Dismiss; Individual Defendants filed answers on April 29, 2025 and case was partially stayed pending Demand Review Committee investigation. source
• On October 22, 2024, the McCollum derivative action was filed; on November 7, 2024 the court entered an order staying the McCollum Action. source
• The Demand Review Committee provided a report on August 28, 2025 recommending rejection of the demands; independent members of the Board unanimously adopted the recommendations; on November 24, 2025 the Company moved to dismiss the Hialeah and McCollum Actions. source
• The Company generally indemnifies its clients against damages from patent, copyright, or trademark infringement associated solely with customers' use of the Company's solutions, historically not making any material payments under such indemnifications. source
• Historically, no material costs have been incurred related to software warranties, and no accruals for warranty costs have been made. source

Impact estimates