Global Payments $3.6 Million Securities Settlement

If you purchased or acquired publicly traded Global Payments Inc. common stock between October 31, 2019, and October 18, 2022, you may be eligible to claim a portion of a class action settlement.

Global Payments Inc. has agreed to pay $3,600,000 to settle a class action lawsuit for allegedly making false and misleading statements about its business practices and compliance with consumer protection laws.

Who can file a claim?

To be eligible to file a claim, you must of:

• Purchased or acquired publicly traded Global Payments common stock during the period from October 31, 2019, through October 18, 2022
• Suffered losses

How much can class members get?

The settlement provides a total of $3,600,000 to be distributed among eligible class members. The amount each class member can receive depends on the number of valid claims submitted and the details of their transactions.

The calculation of individual awards will be based on the Recognized Loss Amount, which considers the purchase and sale dates and prices of Global Payments stock. The estimated average recovery is $0.03 per affected share before deductions for fees and expenses.

• Recognized Loss Amount: Calculated based on the difference between the purchase price and the sale price or the average closing price during the 90-day lookback period, whichever is less.
• Net Settlement Fund: The settlement amount minus taxes, notice and administration costs, litigation expenses, and attorneys' fees.

For example, if a class member purchased shares at $110 and sold them at $100, their Recognized Loss Amount would be $10 per share, subject to the average closing price during the 90-day lookback period.

What documentation is required to submit a claim?

Claimants must provide proof of their transactions in Global Payments common stock:

• Brokerage confirmation slips or monthly account statements.
• Authorized statements from brokers containing transactional and holding information.

How to claim an award

To claim an award, class members must complete and submit a claim form by January 11, 2025. The form can be submitted online through the online claim form or by mail. The PDF version of the claim form is available for download here.

Global Payments Inc. Securities Litigation

c/o A.B. Data, Ltd.

P.O. Box 173002

Milwaukee, WI 53217

Payment methods

• Check
• Direct deposit

$3.6 million settlement fund

The settlement fund of $3,600,000 will cover:

• Payments to eligible class members based on the Recognized Loss Amount.
• Attorneys' fees not to exceed 33.3% of the settlement fund.
• Litigation expenses up to $100,000.
• Reimbursement for reasonable costs and expenses incurred by plaintiffs, up to $60,000.

Important dates

• Fairness Hearing: December 11, 2024
• Deadline to File a Claim: January 11, 2025

When is the Global Payments Settlement payout date?

After the settlement is approved, the claims administrator will process the claims and distribute the funds to eligible class members. The court will hold a final approval hearing on December 11, 2024.

Why is there a class action settlement?

The lawsuit alleged that Global Payments and its executives made false and misleading statements about the company's business practices and compliance with consumer protection laws. The settlement was reached to avoid the uncertainty and expense of further litigation.