South Florida police pension fund and European investment firm vie to lead shareholder lawsuit against payment giant Fiserv over Clover unit. Pension fund lost $1.67 million, investment firm lost $5.95 million on Fiserv shares. Lawsuit alleges misleading statements about Clover’s growth, resulting in major share price declines. Lawsuit covers investors from July 2024 to July 2025. Fiserv declines to comment and disagrees with claims, shares down 38% this year. Pension fund manages $460 million, investment firm manages $2.8 billion in assets. Two other plaintiffs withdraw motions, citing smaller losses. Lead plaintiff selection heavily influenced by investor’s loss size and legal counsel’s oversight ability. Ethenea argues it has largest financial interest among plaintiffs, while pension fund questions its trading practices. Court to consider experience and resources of legal counsel in selecting lead plaintiff for class action suit. Pension fund represented by Labaton Keller Sucharow, investment firm represented by Motley Rice.

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