FP Omni Technologies Files Reply and Affirmative Defenses to TSYS Acquiring Solutions' Counterclaims

GWINNETT COUNTY, Ga., Jan. 8, 2025 /PRNewswire/ -- FP Omni Technologies, Inc. ("FP Omni"), a fintech payments firm, has officially responded to counterclaims filed by TSYS Acquiring Solutions, LLC ("TSYS") in their ongoing lawsuit. In a bold and detailed filing, FP Omni's reply highlights a series of alleged misrepresentations and failures by TSYS to uphold its contractual obligations, significantly impacting FP Omni's business operations. 

The allegations made by FP are all supported by documents obtained from TSYS and testimony of its own personnel – all of which TSYS has tried in vain to keep from public disclosure, under the guise of being "confidential." As just one extraordinary example, TSYS has now claimed that it was unaware that FP Omni's merchants were in large part cannabis dispensaries. TSYS' lack of knowledge is a demonstrable lie. Multiple internal documents at TSYS and multiple TSYS employees testified that TSYS was very aware that was the nature of FP Omni's business. FP Omni's highly successful business plan was to work only with underwritten dispensaries in states where the sale of cannabis was legal. Yet, while making false claims against FP Omni, TSYS has tried to cover up the truth by arguing that the documents and testimony about its knowledge is "confidential." Fortunately, this coverup has come to an end (at least in part, because TSYS maintains "confidentiality" as to many other matters, which FP Omni cannot disclose at this time).

The case, originally filed under Civil Action File No. 22-A-1537-8 in the Superior Court of Gwinnett County, centers on TSYS' role in processing transactions for FP Omni's merchant clients. FP Omni's complaint asserts that TSYS breached its contractual commitments, leading to the destruction of FP Omni's business valued at over $500 million. The company further contends that TSYS' counterclaims are meritless and filed as a diversionary tactic to deflect accountability.

Key Points from FP Omni's Reply:

General Denial of Counterclaims: FP Omni denies the validity of TSYS' counterclaims. They lack merit and are contradicted by TSYS' own internal documents and deposition testimony. The claims are also comical: after driving FP Omni out of business, TSYS claims that FP Omni owes it money for failing to pay TSYS for future payment processing services.

Cannabis Industry Transparency: TSYS had full knowledge of FP Omni's merchant portfolio, including cannabis dispensaries, at the time of contract execution. Despite this awareness, TSYS approved and processed transactions for FP Omni for years without raising objections.

Selective Enforcement and Favoritism: TSYS' actions were inconsistent and discriminatory. While terminating FP Omni's transactions, TSYS continued processing similar transactions for other clients in the cannabis industry, violating its own stated policies. TSYS should just admit publicly that to this day it processes cannabis transactions for other companies.

Destruction of FP Omni's Business: FP Omni's filing outlines how TSYS' decisions, including its reliance on third parties like Visa to block transactions, directly caused the collapse of FP Omni's business operations.

Deposition Highlights: The filing also includes unredacted deposition transcripts that substantiate FP Omni's position. Key testimony from TSYS employees confirms their knowledge of FP Omni's merchant base and contradicts TSYS' assertions of ignorance.

FP Omni CEO's Statement: "The lies and deception perpetrated by TSYS will no longer go unanswered. Our company has suffered irreparable harm due to their actions, and we are committed to seeking justice," said the CEO of FP Omni Technologies."

Looking Forward: FP Omni remains steadfast in its pursuit of accountability and aims to expose what it describes as a calculated effort by TSYS to undermine its business. The company is seeking damages exceeding $500 million, representing the value of its lost business and reputational harm.

About FP Omni Technologies: FP Omni Technologies was a leading fintech company specializing in innovative payment solutions. The company is dedicated to providing reliable and compliant payment processing services tailored to high-risk industries.

For media inquiries, please contact:
Joe Radest
Managing Partner
Phone: 770-731-0414
Web: www.radestventures.com
Mail: [email protected]

Additional Resources: Full details of FP Omni's reply and affirmative defenses can be accessed via Gwinnett County Superior Court's case management system at https://www.gwinnettcourts.com/about/reSearchGA.

Disclaimer: This press release contains forward-looking statements. Actual results may vary depending on legal proceedings and other external factors.

SOURCE FP Omni Technologies