FIS sued for $50 million for alleged fraud, conspiracy
Jacksonville-based Fidelity National Information Systems Inc. (NYSE: FIS) has been accused of defrauding a client and a California regulator as well as orchestrating a conspiracy to conceal its behavior.
West Palm Beach-based Ocwen Loan Servicing LLC, a large national mortgage company, filed the suit against FIS and its subsidiary, Fidelity Information Services, in a Sacramento, California court Tuesday after FIS charged it more than $60 million for about a year of audit services.
Ocwen originally filed a suit in 2017 against only the subsidiary, but emails, whistleblower testimony and other evidence obtained during discovery led it to believe that Fidelity National was not only aware of its subsidiary's alleged misconduct, but encouraging it. Ocwen is now seeking $50.6 million in damages.