You must have heard how the International Organization for Standardization (ISO) recovered $135M in a breach-of-contract case with Global Payments Inc. (GPN), mustn’t you? This article will tell you more about the case and will help you find the right way to compare merchant services.
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$135 million was awarded to ISO in a breach-of-contract lawsuit filed against Global Payments. The latter was thought to be responsible for over $135 million following a jury verdict in a breach-of-contract lawsuit that an independent sales organization filed against the processor.
In September, the jury awarded the ISO over $24 million in direct damages and $109.8 million in consequential damages. Besides, Frontline Processing Corp. was awarded over $1 million for the purpose of covering its costs and attorney fees caused by the losses the corporation had suffered because of the processor.
On closing the recent trading period, Global Payments traded shares with a fall change of -0.84% at $175.18. The latter stock price change and price percentage are noteworthy to traders. These figures show the final stock value and the changes it underwent during the recent trading session.
To find the best payment processing services for your own company in the UK, just turn to a reputable payment-processor comparison company in the country. With a respectable payment expert, that’s focused on terms, complaints, and integration, you can be sure to enjoy the best deal.
Make sure the comparison specialist reviews contracts, rates, and fees, as well as keeps you away from misleading terminology, hidden costs, and deceptive sales tactics. Also, see whether the comparison expert guarantees the most reliable snapshot of companies at the time of writing.
Lawsuit Against Global Payments & Its Current State
The processor never let Frontline know Visa had already informed Global Payments about its intention to stop cooperating with debt collectors. What’s more, a senior vice president at Global Payments told had Frontline’s CEO that the debt collectors couldn’t create any problems at all.
Global Payments started publicly blaming Frontline for recruiting it only after the federal suit on the debt collectors’ practices was filed.
The processor’s share price dropped by $175.18 and now it’s trading at $174.73. The company’s share gains accounted for 84.29% as compared to the lowest price it saw during the past 52 weeks, set at $94.81 registered on Dec. 10, 2019.
To sum up, DeKalb County jury has recently awarded Frontline Processing Corp. $135 million in a breach-of-contract case with Global Payments Inc.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and compares merchant services so you can get the best for your company. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie in his backyard porch, as should all right thinking people.