Business

Kahn Swick & Foti, LLC Launches Probe into Global Payments Over Consumer Complaints and Class Action Lawsuit

NEW ORLEANS, May 17, 2024 /PRNewswire/ – Charles C. Foti, Jr., Esq., former Attorney General of Louisiana and a current partner at the legal firm Kahn Swick & Foti, LLC ("KSF"), informed the public that KSF has initiated an extensive investigation into the functioning of Global Payments, Inc. The investigation was fueled by the rise of consumer grievances and legal issues concerning the subsidiary of Global Payments, Active Network LLC ("Active"), known for its online event registration and payment solutions.

The Online Payment Controversy

Active Network LLC operates a system that is pivotal in managing online transactions for sports-related events and camp registrations. It also promotes membership schemes that offer consumers preferential rates on a wide array of products and services, including exclusivities like wine tastings, sports goods, travels and more. However, the service plunged into hot water when it was brought to light that the membership trial offered by Active inadvertently led consumers into unknowingly agreeing to a continuous paid subscription. This ignored consumer consent translated into customers facing unexpected annual charges if the trial membership was not explicitly canceled within a predetermined 30-day trial period.

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Legal Turmoils hitting Global Payments

As a consequence of these automated transitions from trial to paid memberships, the saga escalated when the Consumer Financial Protection Bureau ("CFPB") filed a lawsuit against Active. The Bureau's action was grounded in allegations that Active's business practice was in direct conflict with the stipulations of federal consumer protection laws. The lawsuit, filed in October 2022, brought Active's conduct under severe scrutiny for its potential legal violations.

The troubles for Global Payments increased manifold when, subsequent to the consumer lawsuit, the company and some of its key executives faced a securities class action lawsuit. This legal debacle was predicated on allegations that Global Payments had withheld critical information from shareholders during a designated Class Period, thereby breaching federal securities laws. While the company moved to have the case dismissed, the court recently ruled in favor of the plaintiffs, denying Global Payments' attempt to dismiss the charges, which means the litigation will progress through the courts.

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KSF’s Investigative Approach

The legal actions have led KSF's investigation to zoom in on the possible dereliction of fiduciary duties by the senior management of Global Payments or any other violations of state or federal legislatives. KSF, renowned for its litigation expertise especially in securities, is calling upon shareholders who have been holding Global Payments' stocks long-term and who might aid the investigation or explore their legal options.

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Shareholders in dismay or with information are encouraged to come forward to discuss their concerns without incurring any cost. Interested parties can reach out through the toll-free line at 1-833-938-0905 or direct communication with KSF Managing Partner Lewis Kahn via email ([email protected]) or through the firm’s dedicated investigation page.

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The Dedication of Kahn Swick & Foti, LLC

Showcasing dedication to its clients ranging from public institutional investors to retail investors, KSF has been at the forefront of securing redressals for investment losses incurred due to corporate frauds and misdeeds by publicly trading companies. It is worth noting that the partners at KSF hold remarkable credentials, including Charles C. Foti, Jr., who served as the Attorney General of Louisiana, enhancing the firm’s clout in the legal space.

KSF’s expansive presence spans across the United States with well-established offices located in major legal hubs such as New York, Delaware, California, Louisiana, and New Jersey. As an assertion of its resolve in advocating investor's rights, it has positioned itself as one of the premier boutique securities litigation law firms on a national level.

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For those looking to delve deeper or to learn more about the services and expertise of Kahn Swick & Foti, LLC, visit their website directly at ksfcounsel.com.

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Contact Information

Handing out their contact information, Kahn Swick & Foti, LLC embraces transparency and openness in communication. With Lewis Kahn, the firm's Managing Partner, spearheading the efforts, investors can contact them directly through the following details:

• Email: [email protected]
• Phone: 1-877-515-1850
• Address: 1100 Poydras St., Suite 960, New Orleans, LA 70163

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Conclusion

With the recent developments surrounding Global Payments Inc., and the subsequent legal challenges that the corporation faces, KSF is actively seeking the participation of shareholders and the public in shedding light on the case. The unfolding events will be closely watched by the investment community and could potentially have lasting impacts on the principles of corporate governance and shareholder transparency within the financial services industry.

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This news article was sourced from Kahn Swick & Foti, LLC. The support of KSF’s comprehensive legal expertise offers a beacon of hope for those afflicted by corporate oversight, and the endeavors by the firm could serve as a significant turn towards reinforcing investor protection paradigms.

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The news article provided a summary of the current investigation into Global Payments Inc., as announced by KSF, as well as the broader context and implications for shareholders and consumers alike. The investigation highlights the importance of corporate responsibility and legal adherence in relation to consumer rights and investor transparency.

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For the latest updates and detailed information on the case as it unfolds, you may keep abreast of announcements directly from Kahn Swick & Foti, LLC through their official communication channels, thus ensuring that interested parties are informed of their rights and the available legal recourses.

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(This article is a rephrasing of the original press release and does not contain any personal commentary or opinion.)

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Source: Kahn Swick & Foti, LLC

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