In re: Fiserv, Inc. Shareholder Derivative Litigation

Summary

The United States District Court for the Eastern District of Wisconsin grants the motion to consolidate three shareholder derivative actions concerning Fiserv, Inc. and designates Martin v. Bisignano as the lead case. The order also establishes deadlines for motions concerning appointment of lead counsel and sets procedures for future related actions, service, filings, and scheduling.

Holdings

1. Actions involving common questions of law or fact may be consolidated under Federal Rule of Civil Procedure 42(a), and consolidation was appropriate because the three actions involved the same defendants, substantially similar alleged violations, and the same underlying facts.
2. The court adopted the parties' proposed schedule for briefing on motions for appointment of lead counsel, requiring opening briefs by June 1, 2026, and response briefs by June 8, 2026.
3. Defendants waived service of summonses and complaints to the extent service had not been perfected and waived defenses based on sufficiency of service, while not waiving or prejudicing other defenses; defendants were also not required to respond to the specified related complaints pending before or later brought in the court.

Questions Presented

1. Whether the three related shareholder derivative actions should be consolidated because they present common questions of law or fact.
2. Whether the court should establish a briefing schedule for motions seeking appointment of lead counsel.
3. What administrative and procedural directives should govern the consolidated proceedings, including the treatment of service and responses to the complaints.

Disposition

other