NEW YORK, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Shift4 Payments, Inc. ("Shift4" or the "Company") (NYSE:FOUR) and certain officers. The class action, filed in the United States District Court for the Eastern District of Pennsylvania, and docketed under 23-cv-03206, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Shift4 securities between November 10, 2021 and April 18, 2023, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
If you are a shareholder who purchased or otherwise acquired Shift4 securities during the Class Period, you have until October 19, 2023 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
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Shift4 provides software and payment processing solutions in the United States. The Company provides, among other products and services, integrated and mobile point-of-sale ("POS") solutions.
In Shift4's third quarter of 2022, the Company completed its so-called "mass strategic buyout program" as part of a purported strategic initiative to insource its sales distribution network.
According to Shift4, because the Company is not a "member bank" as defined in certain payment network rules, the Company ...