The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies. Specifically, the Complaint alleges Defendants made false and misleading statements and failed to disclose that: (a) Active Network used deceptive and abusive acts and practices to dupe its customers into enrolling in Active Network’s discount club; (b) since July 2011, Active Network, and by extension, Global Payments, was aware of such unauthorized conduct and that it was violating relevant regulations and laws aimed at protecting its consumers; (c) since 2011, Global Payments failed to properly monitor its subsidiary from engaging in such unlawful conduct, detect and stop the misconduct, and identify and remediate harmed consumers; (d) all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation; (e) Global Payments’ revenues were in part the product of Active Network’s unlawful conduct and thus unsustainable; and (f) as a result, the Company’s public statements were materially false and misleading at all relevant times.