The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of PayPal Holdings, Inc. alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all persons or entities who purchased PayPal common stock between February 3, 2021, and February 1, 2022, inclusive.
Lead Plaintiff Deadline: December 5, 2022
No obligation or cost to you.
PayPal Holdings, Inc. NEWS – PYPL NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that PayPal Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) defendants had inflated the Company’s vitally important Net New Active Accounts metric guidance through an usually large use of marketing campaigns that were easily susceptible to fraud; i.e. the creation of millions of illegitimate accounts which were created for the sole purpose of taking advantage of cash incentives for account creation; (2) defendants used these marketing campaigns and other incentives to hide the Company’s true churn rate and declining levels of engagement with the platform; and (3) as a result, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in PayPal you have until December 5, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased PayPal securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
J. Klein, Esq.
535 Fifth Avenue
New York City, NY 10017
Telephone: (212) 616-4899