A small credit union that sued Fiserv over a contract dispute alleging fraud said Tuesday it will continue legal action against the financial tech giant in state court following a federal judge's ruling last week.
U.S. District Court Judge Katherine B. Forrest in Manhattan remanded the case back to the New York State Supreme Court, where it was originally filed by the $28 million Parks Heritage Federal Credit Union against Fiserv.
The Glen Falls, N.Y.-based credit union accused the Fortune 500 corporation of fraud, breach of contract and negligent misrepresentation, and claimed Fiserv's account processing solution is inundated with flaws, bugs and defects that compromised the integrity of and misrepresented Parks Heritage. The credit union is seeking a monetary judgement of at least $2.5 million and punitive damages, and wants out of its master agreement with the Brookfield, Wis.-based Fiserv.
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