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Fiserv, Inc. (FI) Former CEO Sold 2.6M Shares For $423M Before Company's “‘Abysmal'” Q3 2025 Results – Hagens Berman

1. Commissioner Bisignano sold 2.6 million FISV shares, avoiding $300 million in losses. 2. Fiserv's shares plummeted 47% after 'abysmal' Q3 2025 earnings report. 3. An investigation on misleading performance claims has been initiated. 4. Leadership changes occurred post-results, with a new CEO addressing growth issues. 5. Market response wiped out $32 billion in shareholder value in one day.

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FAQ

Why Very Bearish?

The significant drop in share price, leadership upheaval, and investor investigation indicate major loss of confidence.

How important is it?

The severity of the financial miss, leadership transition, and ongoing investigation significantly impacts investor confidence and future performance.

Why Short Term?

Immediate market reactions due to earnings miss and leadership changes suggest short-lived but intense negative sentiment.

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SAN FRANCISCO, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Filings with the SEC reveal that Social Security Administration Commissioner Frank Bisignano, the former chairman and CEO of Fiserv, sold approximately 2.6 million Fiserv (NYSE: FI) shares for approximately $423 million in gross proceeds between mid-May and late-July 2025. Bisignano’s sales, timed with his move into government, allowed the insider to avoid roughly $300 million in paper losses. Fiserv investors weren’t so fortunate and saw the price of their shares tank over $59 (-47%) on October 29, 2025 after Fiserv reported Q3 2025 financial results, which one analyst reportedly labeled “‘abysmal.’” These events have prompted Hagens Berman to open an investigation into whether Fiserv may have misled investors about the reasonableness of its expected financial performance. The firm urges Fiserv investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys. Fiserv, Inc. (KBR) Investigation: The investigation is focused on the propriety of Fiserv’s statements about its business and growth prospects. On May 6, 2025, after the U.S. Senate confirmed Fiserv’s then-CEO and Chairman Frank Bisignano as the Commissioner of the Social Security Administration, the company announced the appointment of Michael Lyons as its new CEO and Doyle Simmons as its non-executive Chairman. On October 29, 2025, Fiserv shocked investors when it reported a sequential decline in Q3 2025 adjusted revenue, slashed organic revenue growth expectations to just 3.5%-4%, and similarly slashed EPS outlook to $8.50-$8.60. The company also said its chief financial officer was leaving and it was shaking up its board of directors, replacing Simmons as well as the head of the audit committee (Kevin Warren) effective January 1, 2026. Fiserv’s new CEO explained during the earnings call that during Q3 the company conducted a “rigorous analysis of the company’s operations, technology, financials and forecasting,” recalibrated the “optimistic growth assumptions in the original guidance” set by prior leaders earlier in 2025 and deprioritized “short term revenue and expense initiatives.” Lyons also said the analysis revealed several initiatives were found to be “short-term driven” used to achieve prior targets. “As I got a more fulsome understanding of those, that obviously prompted some dissatisfaction with the way we do the process, and we’ve made leadership changes around that,” Lyons told analysts on the earnings call. The market swiftly reacted, sending the price of Fiserv shares down over $59 during intraday trading, and wiped out $32 billion of shareholder value in a single day. One analyst reportedly remarked that the magnitude of the earnings miss and guidance cut was “‘difficult to comprehend.’” Another reportedly commented that Fiserv’s results “‘were not even ballpark close to Street’” and that the Q3 results were “‘abysmal.’” “We’re focused on whether Fiserv may have intentionally misled investors about the state of its business and growth prospects,” said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in Fiserv and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now » If you’d like more information and answers to frequently asked questions about the Fiserv investigation, read more » Whistleblowers: Persons with non-public information regarding Fiserv should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email FI@hbsslaw.com. About Hagens BermanHagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.  Contact: Reed Kathrein, 844-916-0895

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