Shareholders demand board changes, giving finance writers FNZ lawsuit keywords and court filing details.
LONDON, Sept. 28, 2025 /PRNewswire/ — FNZ employee shareholders – who collectively hold over 30% of the company’s equity – are questioning the actions of FNZ’s Chairman and private equity firm Motive Partners. This follows a year of alleged relentless executive turnover, unprecedented increases in expenditure to the tune of hundreds of millions of dollars and repeated failure to deliver on the strategy introduced by the private equity firm Motive Partners.
A spokesperson for the Employee Shareholders, who have filed a US$4.6 billion class action against FNZ Group Limited and 17 of its current and former Directors, said the Chairman must be held accountable for the alleged lack of governance that has allowed this private equity firm to take control of the management of the company and, presumably, all flow of information to the Board.
Since September 2024, when Motive Partners installed its own personnel in senior leadership roles, a large number of senior leaders have left including recent sudden departures of the firms CRO, COO and CTO.
“We’ve lost all the leadership and knowledge that built FNZ to date, but it still needs to continue to build and grow as a growth company. In its place, we have Motive Partners with no relevant experience in actually building companies, let alone building technology companies. The company is being run according to a relatively junior, lower tier, private equity playbook.” said a spokesperson for the Employee Shareholders.
“In addition, Motive’s recent investment in several direct competitors of FNZ raises the question of what Motive’s agenda really is. Overwhelmingly Private Equity investors would avoid such conflicts in their portfolio companies.”
A class action filed in the High Court of New Zealand by FNZ’s employee shareholders alleges the deliberate and oppressive dilution of employee shareholders’ holdings, as well as the direct transfer of their equity to conflicted institutional and private equity shareholders. Motive Partners would seem to be playing a central role.
