The law firm of Kessler Topaz Meltzer & Check, LLP alerts PayPal Holdings, Inc. (NASDAQ: PYPL) ("PayPal") investors that a securities fraud class action lawsuit has been filed on behalf of those who purchased or acquired PayPal securities between February 9, 2017 and July 28, 2021, inclusive (the "Class Period").
Lead Plaintiff Deadline: October 19, 2021
Contact: James Maro, Esq. (484) 270-1453
Toll free (844) 887-9500
PayPal is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. PayPal's services include PayPal Credit and certain debit card services.
The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) PayPal had deficient disclosure controls and procedures; (2) as a result, PayPal's business practices with respect to PayPal Credit remained non-compliant; (3) PayPal's practices regarding payment of interchange rates related to its debit cards were likewise non-compliant with applicable laws and/or regulations; (4) accordingly, PayPal's revenues derived from its PayPal Credit and debit card practices were in part the subject of improper conduct and thus unsustainable; (5) all the foregoing subjected PayPal to an increased risk of regulatory investigation and enforcement; and (6) as a result, PayPal's public statements were materially false and misleading at all relevant times.
PayPal investors may, no later than October 19, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98244