Fiserv's 0.23% Decline and 116th Trading Volume Rank Amid Escalating Lawsuits Over Payment Transition Controversy

Fiserv (NYSE: FI) closed at a 0.23% decline on August 22, 2025, with a daily trading volume of $850 million, ranking 116th in market activity. The stock's performance follows ongoing legal challenges and operational concerns that have weighed on investor sentiment. Multiple law firms are urging shareholders to pursue class-action litigation related to alleged misleading disclosures about the company's payment gateway transition from Payeezy to Clover.

The lawsuits allege Fiserv concealed material risks associated with its forced migration of Payeezy merchants to the Clover platform. Plaintiffs claim the transition temporarily inflated Clover's gross payment volume (GPV) growth metrics while masking underlying weaknesses, including high pricing and poor customer service that led to merchant attrition. These revelations prompted sharp sell-offs in April, May, and July 2025, with the stock dropping 13.8% after the company revised its full-year growth guidance in July.

Legal filings highlight a pattern of alleged misrepresentations regarding Clover's sustainability, including unmet GPV growth targets and unsustainable revenue trends. Investors who acquired shares between July 2024 and July 2025 are being advised to seek lead plaintiff roles in the class action by September 22, 2025. The litigation underscores growing scrutiny over Fiserv's operational transparency amid its strategic shift in payment processing infrastructure.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to 2025 delivered a compound annual growth rate of 6.98%, but experienced a maximum drawdown of 15.59% during the backtest period. The approach showed consistent growth overall, though a significant downturn in mid-2023 emphasized the need for risk management in volume-driven trading strategies.